Argentina's Economy Minister, Luis Caputo, announced via social media on Wednesday that the country will implement modifications to its anti-dumping system. The aim is to enhance competition and lower prices. Among the changes disclosed by Caputo are a reduction in the maximum duration of anti-dumping duties from five years, with possible unlimited extensions, to three years with just one two-year extension.
Caputo stated that the current anti-dumping regulations in Argentina, designed to prevent unfair competition between imported and domestic products, have led to higher consumer prices and increased industrial costs. The upcoming adjustments, which will be officially published on Thursday, will also involve cutting investigation timelines to eight months and simplifying procedures.
President Javier Milei, known for his libertarian views, has prioritized reducing the government's intervention in the economy as a crucial element in overcoming Argentina's economic crisis and tackling soaring inflation.
Caputo summarized the reform's goals as follows: "With this update, the focus is on fostering competition, restoring the original purpose of anti-dumping measures, and striving for a more transparent and equitable approach to foreign trade."