Argentina-US Trade Deal 'Practically Finalized,' Announcement Imminent

Trade Agreement Nears Completion

Alec Oxenford, Argentina's Ambassador to the United States, declared on Monday, November 10, 2025, that a comprehensive trade agreement between Argentina and the U.S. is 'practically finalized' and that an official announcement is expected imminently. Speaking to media outlets, Ambassador Oxenford indicated that negotiations, which have involved President Javier Milei of Argentina and President Donald Trump of the United States, have received the full backing of the US Treasury.

While specific details of the agreement remain under wraps due to a confidentiality agreement, Oxenford expressed confidence that the deal would have a 'positive impact for a long time' on the relationship between the two countries. He noted that the timing of the announcement is being carefully considered, stating that 'sometimes you have to wait for the right moment' for such high-impact issues.

Background and Diplomatic Efforts

The path to this agreement has been marked by ongoing diplomatic efforts and a strengthening of bilateral ties. In April, following a meeting with US Treasury Secretary Scott Bessent, President Milei had publicly stated Argentina's readiness to sign a trade agreement with the U.S. President Trump had also previously indicated his administration's willingness to consider such a pact.

The relationship between Argentina and the United States has seen a notable reinforcement, attributed in part to the ideological alignment between Presidents Milei and Trump. Further underscoring the close economic cooperation, a US$20 billion currency swap was announced in October as part of a U.S. bailout to Argentina, involving the Central Bank and the US Treasury, though its activation status has not been officially confirmed.

Potential Economic Impact and Future Steps

Analysts suggest that the finalized trade deal could significantly expand Argentina's access to U.S. markets and foster deeper fiscal cooperation between the two economies. Reports indicate that Argentina is seeking specific benefits within the agreement, including:

• A quota for tariff-free steel exports
• A quota for tariff-free aluminum exports
• Improved access for beef imports into the U.S. market

Currently, the U.S. imposes a general 50 percent tariff on steel and aluminum imports from overseas, with a previous arrangement in 2018 allowing for 180,000 tons per year for both products. Argentine Foreign Minister Pablo Quirno is anticipated to travel to Washington to continue discussions and finalize aspects of the deal.

The impending announcement is poised to mark a significant milestone in the economic and political relationship between Argentina and the United States, reflecting a period of increased collaboration and shared strategic interests.