Milei reaffirms support for agriculture, promises continued export tax cuts

Argentine President Javier Milei addressed the 138th Rural Exhibition in Palermo, reaffirming his administration's commitment to the agricultural sector. While avoiding the announcement of new specific measures, Milei assured producers and rural leaders that his government will continue to lower export taxes. He indicated that growth in the energy and mining industries would finance these tax reductions.

Speaking at the 160th anniversary of the Argentine Rural Society, Milei declared, "A radically different countryside is coming, unlike what we have known." He emphasized the agro-industry's role as a historical engine of the Argentine economy, stating that they "pull the country's cart forward" and deserve to be called "heroes."

Milei's presence at the exhibition had raised expectations for potential export tax reductions, particularly for beef. However, he focused on outlining measures already implemented, including the elimination of currency controls, reduced tariffs on inputs and machinery, the opening of new foreign markets, deregulation of various activities, and the export tax reduction for major crops enacted earlier in his term.

"We are on the way to freeing them up completely," Milei stated, emphasizing that the complete elimination of sector taxes depends on consolidating the fiscal surplus. He further assured that the gradual reduction of these taxes will be financed by the mining and energy sectors, adding, "The growth of these sectors, which previously produced nothing, is what will finance the elimination of withholdings and the true empowerment of a thriving countryside in the coming decades."

Before Milei's speech, the president of the Argentine Rural Society, Nicolás Pino, highlighted improvements in various economic indicators under Milei's administration. However, he directly addressed Milei, reiterating that export taxes "must disappear by law and forever."