President Donald Trump secured “breakthrough trade deals” with Argentina, Ecuador, El Salvador, and Guatemala, setting up “more streamlined market access” for the United States and its four Western Hemisphere partners, the White House announced on Thursday.
The deals include both economic and national security commitments, which the White House promises will give American companies greater access to the Central and South American markets. Under the deals, the Trump administration is expected to lower tariffs on some food products, which could lower the cost of items such as coffee and bananas, according to a senior Trump administration official, Reuters reported. The finalized frameworks for the deals are expected to be completed within the next two weeks.
The White House announced the new trade agreements shortly after Treasury Secretary Scott Bessent promised that the administration was seeking to give Americans some relief at the grocery store. Bessent’s comments were a rare moment of the Trump administration acknowledging that Americans are feeling the sting of Trump’s tariffs, at least in some circumstances.
“These deals secure commitments on economic and national security issues to strengthen supply chains and trade partnerships in the region, deepening bilateral trade and investment cooperation to provide American exporters with unprecedented access to markets in Central and South America,” the White House said. “The deals will help U.S. farmers, ranchers, fishermen, small businesses, and manufacturers to increase U.S. exports to and expand business opportunities with these trading partners.”
The deal with Argentina gives U.S. exporters “preferential market access” for “medicines, chemicals, machinery, information technology products, medical devices, motor vehicles, and a wide range of agricultural products.” Under the agreement, Argentina is expected to exempt beef from its 10% tariff on imports, allowing the U.S. cattle industry to ship beef to the South American country at a more affordable rate, a U.S. official told POLITICO. President Donald Trump had also considered allowing Argentina to export more beef to the United States, but the agreement does not appear to allow that, after Trump’s idea faced backlash from Congress and the U.S. cattle industry.
“Argentina has opened its market to U.S. live cattle, committed to allow market access for U.S. poultry within one year, and agreed not to restrict market access for products that use certain cheese and meat terms,” the White House said.
The Trump administration stated that Ecuador would reduce or eliminate tariffs on tree nuts, fresh fruit, pulses, wheat, wine, and distilled spirits. El Salvador agreed to “break down non-tariff barriers for U.S. agricultural products in its market, including ensuring that U.S. agricultural exporters will not be restricted due to the mere use of certain cheese and meat terms.” Guatemala, meanwhile, made commitments on digital trade, including ending discrimination against U.S. products distributed digitally.
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