Argentina’s Milei Cuts Export Taxes on Meat, Grain, Soy

Argentine President Javier Milei announced permanent reductions in export taxes on key agricultural products, including poultry, beef, soybeans, corn, sorghum, and sunflower, aiming to boost the agricultural sector and the broader economy. The cuts lower export rates by up to 7 percentage points, with soy taxes falling from 33% to 26% and poultry and beef from 6.75% to 5%, resulting in an estimated 20% tax reduction for grains and 26% for meat exports. These measures respond to long-standing demands from farmers and follow temporary tariff cuts earlier in the year. Milei emphasized that the tax cuts are part of his administration's efforts to support the rural economy after decades of heavy taxation and to maintain fiscal surpluses. However, opposition lawmakers criticized the move, warning it could reduce federal revenue and force budget cuts in other areas or increased domestic taxes. The cuts aim to strengthen Argentina's agricultural competitiveness, which has lagged behind regional rivals like Brazil.