Argentina to reform anti-dumping system to spice up competitors

(Reuters) – Argentina will roll out modifications to the nation’s anti-dumping system in an effort to advertise larger competitors and convey down costs, Economic system Minister Luis Caputo stated on social media on Wednesday.

The modifications embrace decreasing the utmost length of anti-dumping duties from 5 years, with limitless renewals, to 3 years with a single two-year extension, Caputo stated.

In line with the official, Argentina’s present provisions for anti-dumping duties, supposed to stop unfair competitors between imported and home items, have elevated shopper costs and industrial prices.

The modifications, which might be revealed within the authorities’s official bulletin on Thursday, will even embrace shortening investigation timelines to eight months and streamlining procedures.

Libertarian President Javier Milei has made shrinking the state’s function within the financial 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 international commerce is sought,” Caputo stated.