Trump Administration Strikes Trade Frameworks with Latin American Nations

The Trump administration announced trade frameworks with Argentina, Ecuador, El Salvador, and Guatemala to enhance U.S. firms' ability to sell industrial and agricultural products. The agreements aim to cut tariffs and remove barriers, offering tariff relief on specific goods and excluding digital services taxes on American companies.

The Trump administration announced Thursday that it has established trade frameworks with Argentina, Ecuador, El Salvador, and Guatemala. These agreements aim to enhance U.S. firms' ability to sell industrial and agricultural products in these countries, according to a senior administration official who spoke on condition of anonymity.

The White House expressed that these frameworks, which are expected to be signed within two weeks, are part of President Donald Trump's broader strategy to alter global trade dynamics through strategic tariff implementation.

The frameworks address various subjects, including reducing nontariff barriers, setting tariff rates to 0% on select U.S. goods, and settling intellectual property rights issues. Guatemala's President hailed the agreement, which grants zero tariffs on 70% of Guatemalan exports to the U.S. Digital services taxes on U.S. companies are also to be excluded, with tariffs on goods such as coffee, cocoa, and bananas potentially reduced.

(With inputs from agencies.)