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Argentina Delays Legislative Process for US Trade Agreement

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On July 6, the Argentine government announced on the 5th that it will not submit the reciprocal trade and investment agreement signed with the United States to Congress for approval in the short term. The Argentine government announced the signing of the reciprocal trade and investment agreement with the United States on February 5 of this year. According to the Argentine Constitution, treaties concluded by the government with other countries and international organizations must be approved by Congress. According to Argentine media TN Television, the government stated that a ruling issued by the U.S. Supreme Court in February determined that the U.S. International Emergency Economic Powers Act did not authorize the president to impose large-scale tariffs. This ruling limits the U.S. president's ability to fulfill commitments regarding tariffs and market access through executive orders, thereby affecting certain provisions related to market access in the Argentina-U.S. reciprocal trade and investment agreement. Consequently, the Argentine government has decided that the agreement will not enter the legislative agenda in the near future. (Xinhua News Agency)
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