U.S.-Argentina Business Council (USABC)

El 28 de junio, el vocero presidencial Manuel Adorni felicitó a los legisladores que “honraron el mandato que hicieron los argentinos a través de su voto en las urnas”, tras la aprobación en el Congreso de la Ley Bases y el paquete fiscal. Adorni declaró que la aprobación de esta norma representa un paso más dentro de las reformas que la administración de Milei considera de primera generación y aseguró que la Ley Bases permitirá avanzar en “el saneamiento del Estado y la llegada de nuevas inversiones.” Leer más: https://lnkd.in/efmRh-cp

In May, Argentina posted a primary fiscal surplus of 2.33 trillion pesos ($2.57 billion), the largest yet under President Javier Milei who has ushered in tough austerity measures since taking office in December. The surplus demonstrates Milei’s pledge to achieve a “zero deficit” this year. The Milei administration blames years of over-spending and large fiscal deficits for Argentina’s many economic challenges and seeks to right them by increasing the country’s fiscal surplus. Read more: https://lnkd.in/d73KTj_S

El 12 de junio, el ministro de Economía, Luis Caputo, declaró que el Gobierno logró “bajar la inflación bajando tasa (de interés)” y que “la época de la tasa real negativa para nosotros culminó hoy.” Caputo explicó que el Ministerio de Economía realizó una licitación con una tasa mínima de 4.25 a 90 días. La tasa baja del 2% se debió a la certeza de que la inflación iba a continuar bajando. Según Caputo, “… logramos esta baja de la inflación sincerando un montón de precios relativos que estaban pisados desde la administración anterior.”   Leer más: https://lnkd.in/eRZnK_qh

ICYMI: On June 5th, the United States and Argentina held the fourth meeting of the Trade and Investment Council under the U.S.-Argentina Trade and Investment Framework Agreement (TIFA). Each country was accompanied by a broad interagency team and shared their desire to deepen bilateral trade relations and to diversify regional supply chains in key sectors, such as critical minerals. During the meeting, they discussed practical steps to further transparent regulatory and border processes. On agriculture, the United States and Argentina decided to continue discussing market access interests in the next quarter.    For more information: https://lnkd.in/e9tkAUfY

This morning, we hosted our U.S. government interagency meeting on Argentina with the U.S. Department of State and the Office of the United States Trade Representative. The productive meeting highlighted the burgeoning bilateral relationship between the two countries and the fast-tracked desire to cooperate on a number of areas. The relevance of this conversation could not have come at a better time, following Foreign Minister Mondino’s visit to Washington D.C. last week. Member companies, including Cargill, Excelerate Energy, Gilead Sciences, John Deere, and Merck, had the opportunity to participate in this meeting and provide their feedback directly to the source on the U.S. side. The USABC looks to continue its advocacy and hold similar meetings and debriefs on Argentina with different U.S. government agencies.

Today we hosted the Honorable Diana Mondino, Minister of Foreign Affairs and Worship of the Argentine Republic. This meeting marked a significant opportunity for business executives to engage directly with Minister Mondino, who plays a crucial role in shaping Argentina's foreign policy under President Milei's administration. 🔹 Key Insights and Opportunities: The gathering provided an invaluable platform to discuss the current objectives and explore the future direction of Argentina's international relations and trade strategies. It was a unique chance to understand firsthand the policy priorities and economic diplomacy efforts that Argentina is focusing on, especially in enhancing the bilateral trade relationship. 🔹 Distinguished Attendees Included: Amb. Marc R. Stanley, Ambassador Extraordinary and Plenipotentiary of the United States of America to the Argentine Republic Amb.-Designate Gerardo Werthein, Ambassador-Designate of the Argentine Republic to the United States of America Marcelo Cima, Secretary of International Economic Relations, Ministry of Foreign Affairs, International Trade and Worship of Argentina This meeting not only underscored the strong diplomatic ties between the U.S. and Argentina, but also highlighted the dynamic and forward-looking approach of Argentina's foreign policy under the current administration. Stay tuned for more updates and insights as we continue to foster robust business and economic relationships between our two countries.

We met with members and stakeholders to provide updates on the USABC’s lithium engagement in DC. We are working towards an educational campaign and advocating why Argentina is an ideal partner in the critical minerals space.   For businesses and investors in the energy and automotive sectors, Argentina's lithium resources represent a strategic opportunity to diversify supply chains with a government friendly to U.S. interests. Engaging with this market not only supports nearshoring in the Americas with a strategic ally, but also offers substantial economic returns as the demand for lithium is expected to increase significantly in the coming years.

Argentina improved IP rights recently in their copyright infringement injunction against online piracy. However, gaps still exist in the legal framework for enforcing copyright online. Learn more in the U.S. Chamber of Commerce Global Innovation Policy Center #IPIndex 👇 https://lnkd.in/gBZNcgKs #WorldIPDay #PropiedadIntelectual

In March, for the first time since 2008, Argentina achieved a fiscal surplus for three consecutive months. The surplus, after interest, is equivalent to about 0.2% of GDP in the first quarter of 2024 (primary surplus of about 0.6% of GDP). This further consolidation of the fiscal discipline even exceeds the fiscal target agreed with the IMF in the context of the Extended Facilities Agreement. President Javier Milei announced this achievement during a televised speech on Monday.    For more information: https://lnkd.in/eB6jSDvS

El Fondo Monetario Internacional (FMI) prevé que la inflación en la Argentina caerá al 150% anual hacia fines de este año, mientras que el producto bruto interno (PBI) sufrirá una caída respecto del año anterior del 2,8% por el fuerte ajuste fiscal y las correcciones en la economía que impuso el gobierno de Javier Milei, los mismos pronósticos que tenía el organismo a principios de este año. Para 2025, el Fondo anticipa una recuperación de la economía con un crecimiento del 5% respecto de este año. El Fondo estimó que la inflación tendrá una caída más pronunciada al 45% anual a fines del año próximo.   Más información: https://lnkd.in/gF83zzMk y https://lnkd.in/gfWiRX74