Milei's government will eliminate export duties on 88% of industrial products
This announcement adds to a key precedent: in January 2025, the Secretariat of Industry and Commerce eliminated export duties for agro-industrial activities of regional economies, including value chains such as cotton textiles, paper, cardboard, food and beverages, and also reduced withholdings for the main agricultural products.
At that time, Minister Caputo had also arranged historic reductions for key field crops, which were in effect until June:
Soy: from 33% to 26%,
Soy derivatives: 31% to 24.5%,
Wheat, barley, sorghum, corn: from 12% to 9.5%,
Sunflower: from 7% to 5.5%.
In a definitive manner, withholdings were eliminated for products such as: sugar, cotton, wine, forest industry, rice, food preparations, leather, tobacco, peanuts, chocolates, and candies. This new elimination of industrial withholdings consolidates the path set; Argentina has left behind decades of fiscal punishment for those who produce and generate value.
In another demonstration of the National Government's commitment to deregulation, efficiency, and the generation of genuine wealth, the Minister of Economy, Luis "Toto" Caputo, announced the elimination of export duties for 88% of Argentine industrial products, a measure that will directly benefit 3,580 exporting companies and represents a key step in consolidating an open, modern, and competitive economic model.
"From now on, 4,411 products won't have to pay withholdings of between 3% and 4.5% on the value of the merchandise", stated Caputo through his official account on X, confirming that the decree will be published in the coming days in the Official Gazette.
The scope of this decision is significant: a total value of 3.804 billion dollars was accumulated in 2024. The products included range from agro-parts, foundry products, agricultural machinery, optics, glass, auto parts, machinery and equipment, watchmaking, to pharmaceutical preparations such as hormones, tubes, cables, and insecticides. Meanwhile, high value-added items, such as cosmetics, engine parts, pumps, valves, gears, plastics, and metals will also be exempt from this tax burden.
This decision doesn't arise from improvisation, but as a result of the successful ordering of public accounts carried out by the Government of President Javier Milei. "The ordering of public accounts makes it possible to continue lowering distortionary taxes", stated Caputo, clearly showing that fiscal consolidation is not only viable but has concrete positive effects on the country's productive framework.
With this measure, the industry will be practically exempt from paying export duties, with the exception of some specific sectors such as basic widespread inputs (iron, steel, aluminum, petrochemical industry) and the automotive industry.
