Argentina abolishes export duties on steel and aluminum by the end of the year

The Argentine government has temporarily, until the end of this year, abolished export duties on aluminum, steel and their derivatives. This was reported by Valor Econômico.

The removal of the duty came into effect on October 9 and will cover shipments made from that date. It will be applied to metals exported to countries that at that time applied an import tariff of at least 45% to such goods.

The measure will remain in effect until December 31, 2025, or until the countries involved in the ongoing trade negotiations reduce their tariffs below 45%, whichever comes first.

According to official information, the decision is the government’s response to the practice of various countries that have restricted the access of aluminum and steel products to international trade by imposing significant import tariffs, which directly affects the competitiveness of Argentine exports.

This decision also reflects Argentina’s intention to make its trade policy more open.

As a reminder, the South Korean government will introduce a new export guarantee program for the steel industry amid US tariffs. The measure should provide financial support in the amount of approximately KRW 400 billion ($290 million). The government, steelmakers, financial institutions and lenders will work together to create a guaranteed scheme to strengthen the steel industry’s supply chain.