Argentina Considers Restrictions On Imports Of Clothing And Other Products

Argentina President Christina Fernandes, cabinet chief minister Sergio Massa, Minister of economic affairs Carlos Fernandes, and senior government officials such as president of the central bank, Minister of labor and Minister of planning, held talks with representatives of the business community and trade union leaders for a long time to discuss how to deal with the impact of the financial crisis on Argentina's economic and financial markets.

According to reports, the parties have agreed on some of the contents.

It is reported that Argentina will first strengthen import restrictions, of which Chinese products will be greatly affected.

At present, the Arab government has stepped up anti-dumping investigations against China's imports, and implemented non automatic import licences.

According to the trade protection idea of the past, clothing, shoes, toys, manufactured goods and so on may become the main object of restriction.

The government of the Arab Republic of China is considering restricting imports, mainly to ensure that the balance of trade is roughly the same as last year, so as to maintain the state's solvency.

The price of agricultural products has been declining in recent years, which makes Argentina's export advantage of agriculture and animal husbandry very strong, and foreign trade is under pressure.

In addition, since last year, clothing, shoemaking, toys, manufactured goods and other industries in Argentina have put pressure on the government to restrict imports of Chinese products and protect domestic industries.

The government may also restrict products from the United States and other Asian countries, and closely track bilateral trade between Argentina and Brazil.

The recent sharp rise in Argentina's peso's exchange rate against Brazil's real led to a disadvantageous position for Argentina's trade with Brazil.

The government of Argentina said that if the influx of Brazil's products had a serious impact on Argentina's industry, it would use the protection mechanism of the member states of the Communist Party of South Korea to restrict the import of Brazil products.

In order to maintain the favorable trade situation, maintain the stability of the local currency and stabilize prices, the Argentina government strongly appealed to the members of the Mercosur to hold emergency meetings and take concerted action to ensure exchange rate stability.

The Arab government has decided to continue to intervene in the foreign exchange market and achieve a "managed float" of the peso exchange rate.

Specifically, the US dollar fluctuated from 1 to 3.30 and 1 to 3.40 against the Argentina Peso exchange rate.

In addition, the Arab government has also negotiated with the trade union organizations, hoping that they will work hand in hand with the government to tide over the difficulties and not to propose new salary increases so as not to increase the financial burden and cause inflation to run out of control.

Trade unions have a lot of influence in Argentina, which often affects the political situation of the country.

Since the beginning of this year, the Arab government has raised its pay raise many times under the enormous pressure exerted by the trade unions, which has raised the inflation pressure further.