The norm, in detail
Argentina and the US sign their first trade and investment agreement
Bilateral agreement signed Feb 5, 2026 (no number; submitted to Congress)
pendingNATIONAL
Trade opening
Signed Feb 5, 2026 and still in Congress: the U.S. drops tariffs on 1,675 goods and opens 100,000 t of beef; Argentina takes 221 lines to 0%.
What changed and who it applies to
What changed
A bilateral trade-opening framework signed in Washington on Feb 5, 2026, with concessions on both sides according to the Foreign Ministry: the US (1) eliminates the reciprocal tariffs on 1,675 Argentine products; (2) expands preferential access for beef to 100,000 tonnes; (3) commits to reviewing steel and aluminum tariffs; (4) financing support via EXIM Bank and the DFC. Argentina: (1) cuts the tariff on 221 tariff lines to 0% (machinery, transport equipment, medical devices, chemicals); (2) reduces another 20 lines to 2%, mainly auto parts; (3) sets quotas for vehicles, meat and agricultural products; (4) adopts international intellectual-property standards. THIS IS A TREATY STILL IN PROCESS: its submission to Congress was announced (Official Communiqué 131) and it is not yet law in force; there is no confirmed parliamentary docket number. verif Feb 5, 2026 ↗
In force
Not in force yet. The rule is still going through the legislature: it has not been enacted, so there is no date from which it applies. Once it is published, it shows up here.
Are you in or out?
Exporters to the US (beef packers/meat first and foremost; industry across 1,675 tariff lines); importers of machinery, medical devices, chemicals and auto parts; automakers and auto-parts makers (quotas + 2%); investors in energy and critical minerals (EXIM/DFC); pharma and intellectual-property holders. Congress must approve it before it takes effect. verif Feb 5, 2026 ↗
The norm
Agreement on Reciprocal Trade and Investment between Argentina and the U.S., signed on Feb 5, 2026 in Washington D.C. No law number: it requires approval by the Argentine Congress (its submission was announced in Comunicado Oficial 131 from the Presidency). verif Feb 5, 2026 ↗
Our reading
The first agreement in the region to cut tariffs in both directions with the US: more market to export into (a 5x beef quota) and lower costs to import technology. The geopolitical signal — Argentina as Washington's preferred trading partner — is worth as much as the numbers (R3 · stability → long-term investment). thesis
Where it lands, province by province4
Neuquén Argentina takes 221 machinery and chemical tariff lines to 0%: two of the imported inputs that weigh most in the basin — drilling and fracturing chemicals and the equipment of the 13 active frac spreads. And EXIM Bank/DFC support opens a debt channel for Neuquén midstream (VMOS, TGS). It is signed, not in force: it depends on Congress. favorable opening and deregulation thesis
Río Negro If Congress approves it, Alto Valle fruit enters the US among the 1,675 lines free of reciprocal tariffs. But what is distinctive about Río Negro is not volume — the expanded beef quota is captured mostly by the Pampas complex — it is the Patagonian foot-and-mouth-free status without vaccination, which allows bone-in cuts where the rest of the country cannot enter: it improves the netback of Río Negro packing houses and abattoirs. favorable better export netback thesis
Salta The United States is already the destination for 57.9% of Salta's mining exports and 94.5% of its metals: the agreement locks in by treaty the market Salta depends on most and adds EXIM/DFC financing for critical minerals, the channel Taca Taca — USD 5,250 M, with no RIGI application filed and an indebted operator — needs before deciding. It is in process: it does not apply until Congress votes it. favorable stability → long-term investment thesis
San Juan The agreement opens EXIM Bank and DFC financing for critical-minerals investors, and San Juan copper is Argentina's largest portfolio in that category: Vicuña USD 18,100 M, El Pachón USD 9,500 M, Los Azules. In parallel, Argentina's 0% on 221 machinery and transport lines cuts the cost of imported capex during construction, which is the stage San Juan is in today. ⚠️ The agreement is in process: it was sent to Congress and does not apply until voted. favorable lowers country risk thesis
The other rules on this subject19
Imports without prior permit: from SIRA to a reporting SEDIRes. 1/2023 Trade Secretariat + Joint GR AFIP-Trade 5466/2023 (Official Gazette Dec 26, 2023)in force
Mercosur–EU ratified: 450 million consumers open up to agriculture and industryLey 27.800 (Official Gazette Feb 26, 2026); provisional application from May 1, 2026in force
Industrial export taxes to zero: chemicals, metals and autos export duty-freeDecreto 566/2026 (Official Gazette Jul 1, 2026)in force
Congress approved MERCOSUR's first free trade agreement with an Asian countryMERCOSUR-Singapore treaty · final passage Aug 27, 2026in execution
The RAF stops being an automotive privilege: tax-suspended inputs for all of industryDNU 252/2026 (Official Gazette Apr 17, 2026)in force
Ignacio Aredez· Chief analyst
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