Argentina’s 2026 trade deals with the US and the EU, the latter as a member of Mercosur, are beginning to produce what they promised: an increase in exports to both markets. In the U.S. case, Argentina and Washington formalised the Agreement on Reciprocal Trade and Investment on February 5, 2026. In contrast to the arrangement with the European Union, ARTI does not constitute a free trade agreement. It does, however, eliminate reciprocal tariffs on 1,675 Argentine products, primarily from the agro-industrial and manufacturing sectors. “While that agreement has not formally entered into force, it also included an increase in the U.S. import quota for Argentine beef,” stated the think tank Fundación Mediterránea in a report.
The beef numbers substantiate that assertion. In the initial half of 2026, Argentina’s exports of frozen beef to the United States surged by 175%, translating to an additional US$193 million in revenue. Chilled beef exports experienced a significant increase of 122%, amounting to US$48 million. The Mercosur-European Union free trade agreement was signed on January 17, 2026, with tariff cuts taking effect on May 1. That results in a significantly reduced timeframe for evaluation. “The effects of this agreement are very recent, and only May and June data are available,” stated the free-market think tank.
Even so, it observed that numerous products are expanding at a significantly higher rate than Argentine exports to the European Union as a collective entity:
• Sunflower seeds (+611%)
• Shelled eggs (+277%)
• Sunflower oil (+242%)
• Sawn timber (+138%)
• Dried pulses (+114%)
Molluscs experienced an increase of 82%, honey rose by 75%, sour citrus fruit and fruit juices both saw a gain of 68%, and frozen fish recorded a 55% uptick. Fundación Mediterránea contended that, given the geographical distribution of those sectors, engaging with foreign markets ought to stimulate economic activity nationwide, extending beyond merely the agricultural regions. Exports experienced an increase once more in July, as indicated by official data released on Thursday, climbing 14% year-on-year to reach US$8.9 billion — marking a record for the month. That resulted in a trade surplus of US$2.1 billion, marking the highest figure for any July since the statistics bureau INDEC commenced record-keeping. Exports have increased by 22.9% year-to-date.
Both markets are contributing, yet the U.S. is contributing more significantly. Sales experienced a remarkable increase of 23.4% year-on-year in July, with a cumulative rise of 38.4% over the initial seven months, amounting to a total of US$5.9 billion. Exports to the EU amounted to US$5.1 billion during the same period, reflecting a 19.1% increase; however, the month of July saw a modest gain of only 1.5%. That gap is already altering Argentina’s export composition. The U.S. represented 8% of total exports in 2024, increased to 9.5% in 2025, and has reached 10% thus far this year. The European Union has experienced a decline, decreasing from 10.3% in 2024 to 9.7% last year and further to 8.9% today.
