World News | US Inks Deal with Argentina Allowing It Access to Agri Market, Machinery
Get latest articles and stories on World at LatestLY. The deal covered medicines and motor vehicles to machinery and agricultural goods.
Washington DC [US], February 6 (ANI): United States Trade Representative Jamieson Greer and Argentina's Minister of Foreign Affairs, International Trade, and Worship, Pablo Quirno signed the US-Argentina Agreement on Reciprocal Trade and Investment.
The deal covered medicines and motor vehicles to machinery and agricultural goods.
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In a post on X, the US Trade Representative said, "Ambassador Greer joined Argentina's Minister of Foreign Affairs, International Trade, and Worship Pablo Quirno in signing the U.S.-Argentina Agreement on Reciprocal Trade and Investment, deepening our economic partnership while removing red tape for American farmers and ranchers."
https://x.com/USTradeRep/status/2019523109423050808?s=20
"From medicines and motor vehicles to machinery and agricultural goods, the U.S.-brokered deal with Argentina secures significant market access for U.S. agricultural and industrial exports," it further said.
https://x.com/USTradeRep/status/2019523354714104079?s=20
The agreement, which was signed on Thursday, is designed to cut or eliminate tariff and non-tariff barriers, facilitate trade in goods and services, modernize customs procedures and promote investment in strategic sectors including energy, critical minerals, infrastructure and technology, according to Argentina's Office of the President, Fox News reported.
The deal builds on a framework trade agreement first reached November 13.
Argentina also agreed to accept US safety and regulatory standards for imported goods, including standards for automobiles and medical devices, and to recognise US Department of Agriculture (USDA) food safety standards for meat and poultry imports.
The agreement bars Argentina from imposing customs duties on cross-border data transmissions and includes a commitment not to introduce a digital services tax targeting US technology companies, according to the USTR.
Agriculture provisions include a commitment from Argentina to open its market to US poultry and poultry products within a year and to simplify regulatory requirements for US exporters of beef and pork, Fox News reported.
Argentina also agreed not to restrict US exporters' use of certain cheese names -- including asiago, feta and camembert -- which the European Union labels geographic indications only available to their producing regions, as per Fox News. (ANI)
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