The Minister of Economy, Luis Caputo, reported that starting this Thursday they will modify the antidumping system that currently governs Argentina. The goal, he said, is “avoid abuses that result in higher prices” in local products.
In a publication on the social network “X”, the head of the Treasury Palace reported that the Government will move forward with the modification of the system. “The measure that will be published in the Official Gazette will reduce the duration of future anti-dumping measures”, He said and announced that he will move from the current model in which a maximum validity of 5 years with unlimited renewals applies. “to one of 3, with a single possibility of extension for 2 more years.”
“The antidumping duties They are instruments that are used when the price of a imported product is sold below the market value of the country of origin, generating a unfair competition with local products,” explained the Milei official.
To argue the changes that will be published in the next few hoursthe minister questioned the results it generates in the country. “In Argentina, these measures function in many cases as an acquired right, which avoid competition and makes products more expensive for consumers and inputs for the industry,” he said.
As an example, Caputo spoke about the field of bicycles, the electric irons and heaters. “The bicycles have antidumping measures for more than 20 years, which makes its price more expensive. The same goes for products like electric irons and heaters which have much higher prices than in other countries: the irons cost more than $100,000, while in Europe they are worth less than half; the heaters exceed $30,000, while in Brazil they are around $27,000,” he denounced.
Along the same lines, he also referred to the case of the water pumps. There, he said, antidumping duties, which are the percentages that must be paid by those who import goods with measures applied, rise to 246% of the total value of the import. In the case of the multiprocessors He stated that they pay 203% and the fans 164%.
The changes to the antidumping system that the Government announced will be implemented
From now on, to prevent this from happening, the Government will reduce the period of investigations prior to the application of anti-dumping duties. “Before they could be extended up to 12 months”said Caputo, while from the changes “They will have a maximum period of 8 months”.
Another of the changes that the Milei government will promote will affect the application time of the measures. “The duration will be 3 years, with a single possibility of extension for 2 more years”advanced the Minister of Economy. And announced that the previous system of unlimited renewals.
As for the formalities, the libertarian administration made the decision to move forward with a simplification. “Instead of presenting the documentation in two different departments, everything will now be managed in the National Foreign Trade Commission,” Caputo reported. And the National Commission for the Defense of Competition and the Undersecretary of Consumer Defense of the Ministry of Economy will participate in the case analyzes “to ensure that decisions consider both the public and consumer interests.”
The head of the Treasury Palace assured that with the announced reform “competition is encouraged, the original function of antidumping duties is restored and a more transparent and balanced foreign trade is sought.”
Source: Ambito
