Ministry Of Commerce: The Argentine Government Announced To Reduce Import Tariffs On Clothing, Fabrics And Footwear

The Chronicle of Argentina reported on March 15 that the Argentine government announced on the 14th that it would reduce import tariffs on clothing, fabrics and shoes to stimulate market competition and reduce domestic market prices. Economic Minister Kaputo said through social media that the tariffs on clothing and shoes would be reduced from 35% to 20%, fabrics from 26% to 18%, and other yarns from 18% to 12%, 14% or 16%. The relevant measures will come into force after being published in the Official Gazette. Caputo pointed out that the price of Argentine clothing remains high at the regional and even global levels. For example, international brand T-shirts are 310% more expensive than Spain, 95% more expensive than Brazil, and jackets are 174% and 90% higher respectively. Card stressed that the purpose of this tax cut is to strengthen market competition, continue to curb inflation, and let consumers benefit from more affordable prices.

(Source: website of Ministry of Commerce)