Daijiworld Media Network - Washington
Washington, Nov 14: The White House announced on Thursday that the United States has reached preliminary bilateral trade frameworks with Argentina, Guatemala, El Salvador, and Ecuador, marking a significant step toward reshaping economic ties with the four nations.
Under the new arrangements, the US will lift reciprocal tariffs on select goods that are not grown, mined, or naturally produced domestically. In return, the partner countries have agreed to broaden market access or enhance cooperation with Washington across multiple sectors.
The agreements also outline tariff reductions on textiles and apparel imported from Guatemala and El Salvador, according to details cited in Xinhua reports. Argentina, in particular, has committed to granting preferential access to a wide range of US exports — including pharmaceuticals, chemicals, IT equipment, machinery, medical devices, motor vehicles, and several agricultural products.
Despite these concessions, most imports from Argentina, Guatemala, and El Salvador will continue to face a 10 per cent tariff, while goods from Ecuador will largely remain subject to a 15 per cent rate, as reported by US officials during a briefing with local media.
The administration expects these agreements to be formally concluded in the coming weeks.
Earlier reciprocal tariffs introduced by Washington this year have contributed to inflationary pressures, with the US consumer price index rising 3 per cent year-on-year in September. Reducing or eliminating tariffs on products such as bananas, coffee, and cocoa is anticipated to help ease these price pressures.
In related economic developments, the International Monetary Fund (IMF) recently downgraded its 2025 growth forecast for Argentina to 4.5 per cent in its latest World Economic Outlook — a decline from its previous estimate of 5.5 per cent. For 2026, Argentina’s projected growth has been trimmed to 4 per cent.
The IMF also revised Argentina’s inflation outlook, projecting a sharp rise to 41.3 per cent in 2025, before easing to 16.4 per cent the following year. These estimates closely align with the World Bank’s updated forecast, which now pegs Argentina’s 2025 GDP growth at 4.6 per cent.