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1) It was cold comfort for #Argentina when it regained access to the GSP program in December, following a five-year suspension for flouting international arbitral rulings. After all, the trade program was defunct at the time. No longer. https://www.argentina.gob.ar/noticias/argentina-retorna-formalmente-al-sistema-generalizado-de-preferencias-para-exportar-estados …
2) The unilateral benefit is significant. In 2011, the year before #Argentina’s suspension, $464 million in exports to the U.S. entered tariff-free. Eligible goods include wine, olive oil, cheese, peanuts and strawberries. https://www.mrecic.gov.ar/en/argentina-again-benefit-us-generalized-system-preferences …
3) Renewed GSP access comes at a critical time, as drought and U.S. biodiesel tariffs threaten to widen #Argentina’s sizable trade deficit. Now that U.S. lawmakers have revived GSP, #Argentina is celebrating its diplomatic success, following “dos años de intensas negociaciones.”
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