Argentina will be fully reinstated as beneficiary of the Generalized System of Preferences (GSP) for exports to the United States, following the passing of the Consolidated Appropriations Act by the U.S. Congress and its promulgation by President Trump, which includes the renewal of the GSP until 31 December 2020. In addition, the Act orders that any tariffs levied from 1 January until the date of reinstatement be refunded.
Under the GSP, tariff preferences are granted by developed countries to certain products imported from developing countries, which receive preferential treatment and significant tariff reductions.
Argentina's reinstatement as beneficiary of the U.S. GSP is the result of two years of intensive negotiations. From now on, a group of products from Argentine regional economies will be able to access the American market at zero tariff.
The Foreign Ministry, the Ministry of Production and the Ministry of Agro-industry have worked jointly and in coordination, with the active participation of the provinces and the private sector, which will benefit from an increase in exports to the United States.
"We are rebuilding a mature relationship with the U.S., which will open up several commercial opportunities, such as the GSP reinstatement, which is especially important for regional economies, as well as opportunities in terms of value-added products," Foreign Minister Faurie stated, highlighting that "we will continue to work in order to address all the issues on the bilateral economic and trade agenda which will offer new and better opportunities to Argentine exporters."
"Until 2012, the U.S. granted zero-tariff treatment to 538 Argentine agricultural products under the GSP," the Secretary for International Economic Relations, Horacio Reyser, explained, noting that "Argentina's main exports under the system were wine, non-cocoa sugar confectionery, preserved beef, olive oil, cheese, peanuts and strawberries."
In 2011 —the last year in which Argentina was a GSP beneficiary— exports of eligible products totalled USD 464 million (10% of total exports to the U.S.). Argentina was suspended as a GSP beneficiary on 28 May 2012.
Press release No. 116/18