Argentina's new president cuts taxes on farms, manufacturing

Argentinian President Mauricio Macri arrives for the closing of a conference organized by the Argentine Industrial Union in Buenos Aires, on December 14, 2015Argentina’s conservative new president, Mauricio Macri, got down to business Monday by eliminating or cutting a string of taxes on agricultural and industrial exports, seeking to kick-start Latin America’s third-largest economy. Macri, whose inauguration Thursday ended more than a decade of left-wing rule, had promised on the campaign trail to slash the South American farming giant’s steep taxes on agricultural exports, which triggered major protests by producers against former president Cristina Kirchner. Farmers had accused Kirchner of saddling the agricultural industry with an unfair share of the national tax burden, hurting their international competitiveness.

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