Trade
Argentina’s Milei Lowers Key Import Tariff To Cool Inflation
- Argentina’s government lowers PAIS tariff to 7.5% from 17.5%
- President Milei had increased tariff to boost tax revenues
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Argentina is lowering a key import tariff in an effort to further cool inflation as President Javier Milei weighs the trade-offs between economic targets often at odds.
Economy Minister Luis Caputo announced it would lower a levy known as the PAIS tax on imports from 17.5% to 7.5%. The Milei administration actually increased the tax after taking office Dec. 10 in an effort to boost federal revenues and close a fiscal deficit, but the higher tariff has elevated prices on imports.