Recently, the government of our country published Decree 384/2024, which reduced import tariffs on several essential goods. This measure, announced by presidential spokesperson Manuel Adorni, aims to lower prices for consumers and industries. Minister of Economy, Luis Caputo, also promised reductions on herbicides, fertilizers, and foot-and-mouth vaccine imports.
The tariffs on refrigerators and washing machines have been reduced from 35% to 20%, aligning them with the rates shared by Mercosur member countries. Similarly, the tariff on tires has been lowered from 35% to 16%, benefiting truck and bus covers exclusively. The reduction in tariffs on plastic inputs, specifically polypropylene, polyethylene, and PVC, from 12.6% to 6%, is expected to lower manufacturing costs and consumer prices for a wide range of products.
In the agriculture sector, the government has reduced tariffs on fertilizers and herbicides to 0% and 12.6%, respectively. This move is aimed at encouraging the use of these strategic inputs in agricultural activities to improve crop yields. The government hopes that these tariff reductions will lead to lower prices for consumers, increased competition in the market, and improved economic conditions.
However, there are concerns regarding the immediate impact of these tariff reductions as importers’ willingness to pass on the savings to consumers remains uncertain. Local manufacturers are calling for the elimination of the Country Tax to level the playing field against subsidized imports. They warn that without this measure in place