China makes first Argentine wheat purchase in decades as Milei cuts eport tariffs

shipment to China since the 1990s. After leaving the Parana, the vessel will call at an Atlantic port to load an additional 65,000 metric tons of wheat before sailing to China. The deal has been enabled by an almost perfect growing season in Argentina, which has delivered exceptionally high output and made the country’s wheat among the cheapest on the global market. Competitiveness was further strengthened by Milei’s decision on December 12 to cut export tariffs on agricultural products, including a 2 percentage point reduction on wheat to 7.5%. While export levies have long been used in Argentina to fund government spending, the libertarian president has pledged to eventually eliminate them altogether. The wheat purchase also reinforces a broader trend of China increasing its agricultural sourcing from South America amid a prolonged trade dispute with the United States. Ahead of Donald Trump’s return to the presidency, Beijing approved imports of Argentine wheat and corn as part ...