After years of government intervention under the Kirchner family, in 2015 the Argentine people elected center-right candidate Mauricio Macri to be their next president.
Macri has declared that Argentina is “open for business” again. The Trump administration should seize this unique opportunity to increase bilateral trade with the country.
Since his election, Macri has taken a number of steps to boost the Argentine economy. He has modernized the import regime, reduced inflation, cut costly energy subsidies, and settled a 14-year debt battle, allowing Argentina to re-enter global capital markets.
Argentina still has a long road ahead to further reform its economy and increase economic freedom, but the reforms enacted thus far signal that Macri aims to pursue policies that reduce government involvement in the economy.
>>>For additional reform recommendations, read the full report: “How Economic Freedom Can Be Restored in Argentina”
Macri’s leadership presents new possibilities for increased cooperation with the United States.
President Barack Obama echoed this sentiment during his visit to Argentina last year, the first official visit by an American president since 2005. The two leaders discussed various opportunities to work together, including the expansion of bilateral trade.
President Donald Trump should continue these efforts by promoting policies that reduce trade barriers between the U.S. and Argentina.
One example would be for the Department of Agriculture to approve a recent rule change, which was put on hold due to the president’s regulatory freeze last month, allowing Argentina to export lemons to the U.S.
Given the president’s preference for bilateral trade agreements, the administration should also consider negotiating a free trade agreement with Argentina, a move that would further increase the freedom to trade in America, as well as Argentina.
