(Reuters) – Argentina will roll out adjustments to the nation’s anti-dumping system in an effort to advertise better competitors and convey down costs, Financial system Minister Luis Caputo mentioned on social media on Wednesday.
The adjustments embrace decreasing the utmost period of anti-dumping duties from 5 years, with limitless renewals, to a few years with a single two-year extension, Caputo mentioned.
In response to the official, Argentina’s present provisions for anti-dumping duties, meant to forestall unfair competitors between imported and home items, have elevated client costs and industrial prices.
The adjustments, which can be printed within the authorities’s official bulletin on Thursday, can even embrace shortening investigation timelines to eight months and streamlining procedures.
Libertarian President Javier Milei has made shrinking the state’s position within the economic system a key a part of his agenda to drag Argentina out of financial disaster and convey down sky-high inflation.
“With this reform, competitors is inspired, the unique operate of anti-dumping duties is restored and a extra clear and balanced overseas commerce is sought,” Caputo mentioned.
(Reporting by Aida Pelaez-Fernandez; Writing by Brendan O’Boyle)
