The Government reduced import tariffs on refrigerators and washing machines, from 35 to 20%; for tires, from 35 to 16%; and the main plastic inputs, from 12.6 to 6%. In addition, a reduction in tariffs is implemented for a wide range of fertilizers and herbicides. The objective is for the tariff reduction to have a positive impact on the local prices paid by the final consumer.
Tariff reduction: what is the reason
Government established the reduction of import tariffs in key goods of the economy, which will have new tariff percentages that “will result in a drop in local prices and will allow greater competition in the marketwithin the framework of the margins established by the Mercosur member countries,” Commerce explained.
Some of the products for commercial and domestic use that were favored by the reduction in import costs are refrigerators and washing machines, which went from a tariff of 35 to 20%, thus reducing their costs by 15%. In this way, refrigerators and washing machines will once again have the tariff shared by the member countries of the block, which will impact the lowering of the price paid by the final consumer.
Along the same lines, it was determined reduction of tariffs for truck and bus tiresan essential input for the logistics service, in charge of the distribution and export of merchandise, and for public transportation both short and long distance.
The reduction in the cost of importing truck and bus tires is from 35 to 16%. The measure represents a relief for freight and people transportation companies and will influence the reduction of the final prices paid by Argentine consumers.
Other significant tariff reduction promoted in Decree 384/2024includes the three main plastic supplies used in industry to produce a wide range of products. The reduction was made in polypropylene, polyethylene and PVC, various types of plastics or thermoplastics that go from having a tariff of 12.6 to one of 6%.
This measure, which reduces companies’ import costs by more than half, It will have a favorable impact on consumers who demand various goods manufactured with plastic inputs, ranging from food packaging, personal hygiene and cleaning products, to household appliances and toys.
Measurements for the field
In the same decree the measure announced by the Minister Caputo in relation to fertilizers and herbicides: Tariffs on agrochemicals that ranged between 35% and 3.6% are reduced. Fertilizers will have 0%, including urea, ammonium nitrate and a mixture of both, which had an import tariff of 5.4%, 6% and 3.6%, respectively.
For their part, tariffs for the import of herbicides based on glyphosate, atrazine and 2-4D rise from 35% to 12.6%; primary atrazine decreases from 24% to 10.8%; and herbicides based on 2-4D in salt drop from 35% to 12.6%.
The Fertilizers and herbicides are strategic inputs for agriculture and they fulfill the function of protecting, feeding and nourishing the crop. For this reason, the reduction in tariffs will encourage its use in agricultural activity and improve crop yields.
Source: Ambito
