President Threatens to Raise Taxes on Farm Exports in Argentina
- Struggling South American nation wants to tame food inflation
- Leader Alberto Fernandez sees cure from tax rise, export quota
This article is for subscribers only.
President Alberto Fernandez of Argentina, one of the world’s powerhouse food suppliers, is threatening farmers with a tax hike or quota for exports as he seeks relief for families grappling with inflation that’s forecast to reach 47% this year.
If the farm industry continues to sell food at home for the same prices at which it exports, the government will take matters into its own hands, Fernandez told newspaper Pagina|12, providing beef as an example. Sales abroad of Argentina’s famed red meat are at a record, fueled by China, while domestic consumption is slumping.