The United States has reached new bilateral trade frameworks with Argentina, Guatemala, El Salvador and Ecuador, partially rolling back tariffs on selected imports while keeping most duties in place, the White House announced Thursday.
Under the deals, Washington will lift tariffs on goods that the U.S. cannot produce domestically — including bananas, coffee and cocoa — a move expected to ease inflation, which has been pushed upward this year by earlier tariff increases. The U.S. will also eliminate tariffs on textile and apparel imports from Guatemala and El Salvador.
In return, the four Latin American nations will expand market access or deepen cooperation with the U.S. Argentina, in particular, agreed to grant preferential access for a wide range of American exports such as pharmaceuticals, chemicals, machinery, IT equipment, medical devices, vehicles and numerous agricultural products.
Despite these concessions, U.S. officials say most tariffs will remain in place: 10% on the majority of imports from Argentina, Guatemala and El Salvador, and 15% on most goods from Ecuador. The agreements are expected to be finalized within weeks.
The tariff relief comes as the U.S. grapples with inflation — the consumer price index rose 3% year-over-year in September — and as Argentina faces ongoing economic challenges. The IMF recently downgraded Argentina’s 2025 growth outlook to 4.5% and raised its inflation projection to 41.3%.
