Embattled Argentina Turns to Farmers With ‘Really Bad’ Tax
- Argentine president to charge 4 pesos a dollar through 2020
- Macri calls for understanding amid a national emergency
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Argentina will place a new tax on crop exports as President Mauricio Macri leans on farmers to help resolve a crisis marked by rampant inflation and interest rates and a plunging currency.
All shipments of primary exports will be levied at four pesos per dollar, meaning payments will depend on commodity prices and the exchange rate. The measure is a turnaround for Macri who had been repealing taxes introduced by his predecessors that had outraged growers in the world’s top exporter of soy meal and oil.