Argentina-U.S. Trade Accord Advances to Congress as Mining and Energy Lobbying Intensifies in Washington

Foreign Minister Pablo Quirno and U.S. Trade Representative Jamieson Greer signed the protocol to the Agreement on Reciprocal Trade and Investment originally concluded in February. The supplementary instrument enables submission of the treaty to Argentina’s National Congress for ratification. Washington reaffirmed Most Favored Nation tariff status for Argentine products and acknowledged Buenos Aires had met its bilateral commitments. The accord maintains zero tariffs on 1,675 Argentine product categories with an estimated benefit exceeding USD 1 billion and expands the beef quota from 20,000 to 100,000 tonnes annually. Argentine exports to the United States reached USD 6.57 billion in the January-August 2026 period, up 35 percent year-on-year, with the U.S. consolidating as Argentina’s second export destination.

The protocol signing follows months of delay after the U.S. Supreme Court blocked Donald Trump’s reciprocal tariff policy, forcing the administration to rework the agreement using alternative legal authority. The treaty covers investment protection, critical minerals, intellectual property, digital trade and supply chain security. Linked to the commercial framework are USD 7 billion from the U.S. Export-Import Bank for strategic infrastructure and financing lines from the Development Finance Corporation, aimed at implementing the Andes-Atlantic Corridor and the US-Argentina Build the Future Framework launched in New York in September.

Behind the formal diplomacy, business lobbying has surged. Former Menem-era minister José Luis Manzano contracted more than USD 615,000 in lobbying services since April 2024 to promote critical mineral sales to U.S. agencies. His representative Eric Bovim approached the National Economic Council while his Integra Capital USA fund engaged John Barsa, a first-term Trump official now with Continental Strategy consultancy, to facilitate meetings with the State Department and the Executive Office of the President. Manzano’s Minera Aguilar pursued similar channels for its Jujuy copper projects.

Washington now treats critical minerals as geopolitical assets essential for military industry, energy transition and technology development in competition with China. BHP, the world’s largest mining company, conducted a direct lobbying campaign led by CEO Mike Henry to insert Argentine critical mineral projects into U.S. supply security, infrastructure and financing agendas. BHP representatives met White House officials, the National Security Council and U.S. financing agencies. The company invested USD 2 billion in January 2025 for half of Vicuña, Argentina’s largest mining project focused on copper extraction. Harold Hamm’s Continental Resources, which acquired 50 percent of Phoenix Global Resources in August with a USD 4 billion Vaca Muerta commitment, met President Javier Milei during his Washington visit, illustrating how energy investments now carry Republican political endorsement.

Pressure extends to pharmaceutical intellectual property. Jeffrey Goettman from the Office of the U.S. Trade Representative visited Buenos Aires in late August inquiring about medicines. Previously, veteran pharmaceutical lobbyist Matthew Schumaker represented Vertex Pharmaceuticals at USTR seeking intellectual property reforms to address what the biotech firm considers unfair commercial practices in Argentina and Russia. PhRMA, representing Pfizer, Merck, Eli Lilly and Johnson & Johnson, filed similar requests demanding Argentina eliminate restrictions.