As of Saturday, April 19, 2025, the tariff situation involving Argentina is multifaceted, with recent developments both in its own trade policies and in response to the United States' global tariff adjustments. Argentina's Own Tariff Policies: Textiles, Clothing, and Footwear: As of March 31, 2025, Argentina adjusted tariffs on fabrics, clothing, and footwear. This measure aimed to review the Common External Tariff (CET) levels within MERCOSUR (of which Argentina is a member, along with Brazil, Paraguay, and Uruguay) to stabilize domestic prices and ensure adequate supply. The initial CET set tariffs at 14% for yarn, 18% for fabrics, and 20% for clothing and footwear. Decree 236 revised these, with the expectation of boosting intraregional trade within MERCOSUR.   MERCOSUR Common External Tariff (CET): Argentina, as a MERCOSUR member, generally applies the CET, which ranges from 0% to 35% for most products, averaging around 12.5%. Information technology and capital goods have temporary exemptions. In July 2022, MERCOSUR agreed to a 10% reduction of the CET for over 80% of product lines.   Other Import Fees: Besides tariffs, Argentina applies a VAT (10.5% or 21% on CIF value, with lower rates for resale), a 3% statistics charge, potential anticipated profit tax for retail goods, and a 3% to 5% gross income tax.   Food Import/Export Regulations: Argentina has recently reformed its food import and export regulations (Decree 35/2025, effective January 20, 2025). Food imported from countries with "high sanitary standards" (including the U.S., Canada, EU members, Japan, Australia) can enter with minimal paperwork (an Import Affidavit only), eliminating previous registration and licensing requirements. Exports now only need to meet the destination country's requirements.   Hop Cones and Phenol-Formaldehyde: In April 2025, the MERCOSUR Trade Commission allowed Argentina to re-establish temporary tariff-rate quotas on imports of hop cones and phenol-formaldehyde.   Impact of US Tariffs on Argentina: Initial 10% Tariff: As part of President Trump's new global tariff policy announced in early April 2025, Argentina was initially subjected to a 10% tariff on its goods entering the United States. This was the baseline rate applied to most countries.   Removal of Steel and Aluminum Exemptions: Effective March 12, 2025, the U.S. reinstated a 25% tariff on steel imports and increased tariffs on aluminum imports to 25% from all countries, including Argentina, ending previous exemptions. There is a quota for Argentine aluminum imports for the first quarter of 2025. To be exempt, steel must be melted and poured in the U.S., and aluminum smelted and cast in the U.S.   Negotiating Tariff Reductions: Argentina has reportedly offered to lower its tariffs on products from the United States in response to the new U.S. policy. U.S. Trade Representative Jamieson Greer acknowledged this, stating Argentina is among several countries suggesting they will reduce their tariffs and non-tariff barriers.   "Reciprocal Trade Deal" Readiness: Argentine President Javier Milei stated on April 15, 2025, that Argentina is "ready" to sign a reciprocal trade agreement with the U.S., indicating a willingness to align with President Trump's trade policies. In summary, Argentina is navigating its own adjustments to trade policies, particularly within MERCOSUR and in specific sectors like textiles and food. Simultaneously, it is actively engaging with the United States regarding the new U.S. tariffs, having been initially hit with a 10% baseline tariff and the reinstatement of steel and aluminum tariffs. Argentina has expressed a willingness to negotiate and potentially reduce its own tariffs on U.S. goods to foster a reciprocal trade relationship.