U.S. removes tariff benefits to Argentina

 

March 26, 2012

 

U.S. President Barack Obama announced that he will sanction Argentina with the off trade benefits for not acting “in good faith” in two cases lost to U.S. companies.

It was reported that Argentina has not paid two rulings of the arbitral tribunal World Bank (ICSID) in favor of two former dealers in the country, Azurix and Blue Ridge, whose total value amounts to 300 million dollars.

From the government, said the sanctions were intended and not forming a picture “serious” for international trade, although highlighted the political effect they may have.

Dento two weeks, the governments of Barack Obama and Cristina Kirchner will meet at the Summit of the Americas, held in Cartagena, Colombia.