LatinNews Daily - 24 November 2025

Argentina: On 13 November Argentina’s government hailed a “historic” trade deal with the US government led by President Donald Trump which also announced “breakthrough trade deals” with Ecuador, El Salvador, and Guatemala. The deal with Argentina, whose President Javier Milei is among Trump’s closest allies in the region, was widely considered the most significant. As per a US statement, Washington will remove reciprocal tariffs on “certain unavailable natural resources and non-patented articles for use in pharmaceutical applications”, while providing “improved, reciprocal, bilateral market access conditions for trade in beef”. Argentina, meanwhile, will provide preferential market access for an array of US exports including “certain medicines, chemicals, machinery, information technology products, medical devices, motor vehicles, and a wide range of agricultural products”. The two countries will also cooperate to facilitate investment and trade in critical minerals, among other things. According to figures from the Office of the US Trade Representative (USTR), US goods and services trade with Argentina totalled an estimated US$26.1bn in 2024, down 3.5% from 2023. According to the same source US goods exports to Argentina were US$9.1bn in 2024 while Argentina’s goods exports to the US were US$7.1bn, leaving a US goods trade surplus of US$2.0bn. Meanwhile US services exports to Argentina totalled US$7.4bn while Argentina’s services exports to the US were US$2.6bn, leaving a US services trade surplus of US$4.8bn.

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