Argentina’s Milei lowers key import tariff to cool inflation

Argentina is lowering a key import tariff in an effort to further cool inflation as President Javier Milei weighs the trade-offs between economic targets often at odds, Report informs referring to Bloomberg.

Economy Minister Luis Caputo announced it would lower a levy known as the PAIS tax on imports from 17.5% to 7.5%.

The Milei administration actually increased the tax after taking office December 10 in an effort to boost federal revenues and close a fiscal deficit, but the higher tariff has elevated prices on imports.