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Financial News: ARGENTINA: Country Officially Requests Exemption From U.S.

ARGENTINA: Country Officially Requests Exemption From U.S. Duties

03/22/2018 - 17:26:00 (RTTNews)

(RTTNews) - The Argentinean government officially request an exemption from new U.S. duties on steel and aluminum imports.

The request was sent through a letter signed by the Minister of Production, Francisco Cabrera, and the Foreign Minister, Jorge Faurie, to the U.S. Trade Representative, Robert Lighthizer.

In the document, the Argentineans highlighted the "cooperation in defense and security between both countries and also the several institutional mechanisms to address economic issues, such as the bilateral Trade and Investment Framework Agreement."

They also stressed the strong trade ties between Argentina and the United States and also the surplus the Americans would have with the exemption.

Argentina represents only 0.6% and 2.3 of total steel and aluminum imports by the U.S., respectively.

Finally, the document stated that Argentina is not a country of transshipment or triangulation for exports of steel or aluminum to the United States, noting that it is an active participant in efforts to combat global oversupply of steel.

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