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🇦🇷 Argentina /Economy & Trade

Milei Announces Reduction of Export Taxes for Industry and Agriculture

From La Nación · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Context piece
  • Argentine President Javier Milei announced plans to reduce export taxes (retenciones) for the automotive, petrochemical, and machinery sectors, aiming for a complete elimination by mid-2027.
  • He also confirmed a reduction in export taxes for wheat and barley from 7.5% to 5.5% starting in June 2026, with further gradual reductions for soybeans planned until 2028.
  • Milei reiterated his stance on lowering tax pressure, stating that taxes are a form of 'robbery' and his administration's goal is to shrink the state to reduce taxes.

President Javier Milei has signaled a significant shift in Argentina's export tax policy, announcing a phased reduction and eventual elimination of retenciones for key industrial sectors, including automotive, petrochemical, and machinery. This move, slated to begin between July 2026 and June 2027, aims to stimulate industrial activity and align with Milei's broader economic liberalization agenda.

We are going to lower them for the automotive, petrochemical, and machinery industry. We are going to go to zero and the schedule will be informed by the Ministry of Economy in the coming days.

· Javier MileiAnnouncing the reduction of export taxes for industrial sectors.

The President made these announcements during the 172nd anniversary of the Buenos Aires Grain Exchange, where he also detailed reductions for agricultural exports. Wheat and barley retenciones will decrease from 7.5% to 5.5% starting in June 2026. For soybeans, a more gradual reduction is planned, decreasing by 0.25 to 0.5 percentage points monthly from January 2027 until 2028, contingent on government revenue performance.

We are going to lower the retenciones for wheat and barley from 7.5 to 5.5% starting in June 2026.

· Javier MileiDetailing the reduction in export taxes for specific agricultural products.

Milei consistently advocates for lower tax burdens, famously declaring 'taxes are robbery.' His administration's core mission, he stated, is to 'shrink the state to lower taxes.' These announcements come amidst projections of a record grain harvest for the 2025/2026 season, yet also amid concerns about rising costs for farmers, such as fertilizers, which may impact future planting. The President also touched upon Argentina's unique economic situation, ironically noting the country's 'craziest recession' alongside recent economic growth figures, and expressed confidence in a continued downward trend for inflation.

But not only that, it would be unfair if we forgot about soybeans. And starting in January 2027, depending on revenue collection, we will lower between a quarter of a point and half a point per month continuously until 2028 if we are re-elected.

· Javier MileiExplaining the planned phased reduction of export taxes for soybeans.
About this summary

Originally published by La Nación in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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