Argentine President Javier Milei is implementing sweeping economic reforms, dismantling protectionist policies and slashing tariffs to combat high prices and triple-digit inflation.
Javier Milei has begun implementing sweeping changes to Argentina's protectionist economy, significantly reducing tariffs in an effort to curb soaring prices on a wide range of goods, from air fryers to electronics. Argentines are now exploring international online marketplaces like Amazon for the first time, while supermarkets are stocking shelves with imported products such as Tide laundry detergent and Ecuadorean canned tuna.
This shift reflects Milei's dismantling of a complex web of duties and regulations that have rendered many imported items prohibitively expensive. A Black & Decker air fryer priced at $100 in the United States sells for $289 in Argentina, highlighting the stark price disparity. Similarly, a Zara slip dress costing $25 in the US retails for $67 in Argentina, and an Apple iPhone 15, available for $799 in the US, costs a staggering $2,800 in Argentina. This price discrepancy is particularly alarming considering the average Argentine salary is less than a quarter of the US level. Argentinian consumers complain that domestically produced electronics, clothing, and other goods, shielded from competitive pressure and burdened by high taxes, are also overpriced. 'Everything is expensive ... and the difference in quality is really noticeable,' said Matías, a 42-year-old municipal government worker in Buenos Aires. 'I'm a friend of Argentine industry, but not at any cost.' Seeking to alleviate consumer prices and accelerate the decline of Argentina's triple-digit annual inflation, Milei's government has slashed tariffs on dozens of products, ranging from acne cream to funeral urns. They have streamlined customs procedures, eliminating a rule requiring approval from local manufacturers for some imports. Moreover, Milei's administration has increased the annual limit on personal imports from abroad to $3,000, exempting the first $400 from tariffs. Amazon began offering free shipping of select products from its US store to Argentina in November. 'We are lowering tariffs that underpin the disastrous scheme to replace imports,' Milei declared at a business event in October
ARGENTINA ECONOMY PROTECTIONISM TARIFFS INFLATION
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