President Javier Milei announced a reduction in export duties on wheat and barley and promised further cuts if he wins re-election in 2027.
The Argentine leader also stated he would not lower taxes only to raise them again later, as previous administrations had done.
Speaking at the Buenos Aires Grain Exchange on Thursday, Milei said export taxes on wheat and barley would be reduced from 7.5% to 5.5% starting in June. He also outlined a gradual reduction scheme for soybeans beginning in January 2027 and continuing through 2028, conditional on fiscal revenue and a second term in office.
The president also said export duties on the automotive, petrochemical and machinery industries would eventually be eliminated altogether under a timetable to be announced by the Economy Ministry.
“We’re going to keep cutting export duties. We’re going to keep shrinking public spending to return to decent Argentines the money that rightfully belongs to them,” he said, stressing that “there is going to be a revolution of wealth.”
