ARGENTINA.
PRESIDENT’S NEW MEASURES.
Argentina’s President Christina Fernandez de Kirchner, unveiled on Monday night a new set of measures to boost the economy.These include credits for the car industry, and a reduction in export duties on wheat and corn.
The president said, "we are going to promote production, investment, labor, employment and consumption, in this package of US$3.85 billion".
Regarding the farm sector, the cut in export duties will apply only to wheat and corn, which will see their rate cut by 5% on export tax to 23% and 20% respectively.Soy export tax will not be cut from the existing 35% at this juncture, however the president intimated this may change.
The announcement comes on the heels of another stimulus package, announced lasat week for US$21 billion in buildings and infrastructure..
Meanwhile in the United States, it has been reported that the Independent Cattlemen of Nebraska, are asking congress to pass two bills into law, that will effectively black list Argentina if passed.
Dave Wright the newly elected president is on record as saying, "Argentina has proven time and time again that it is not a friend of rural America, the time has come for our government to hold them accountable for their actions".
It appears from government sources in Argentina, Mr Wright may have a political agenda and try to push through his bill. prior to the current administration leaving office.
Argentina have no interest in exporting beef to the USA, with the exception of cooked meats that are currently allowed.
This again shows perhaps the move is more political than commercial.