The government announced the full opening of imports of household necessities such as food and medicine, a major decision aimed at addressing domestic inflation and pushing market prices to become more competitive.This move is seen as the latest attempt by the government to control prices and increase the supply of goods.

On March 12, local time, President Adoni’s spokesman announced the policy, saying the government had ordered the opening up of imports of some of the basic necessities of life, including but not limited to food, beverages, cleaning supplies, personal care products and sanitary supplies.

Additionally, Adoni announced that the government would implement tariff reductions on these imports and significantly shorten the payment period for imports, switching from the original split payment to a one-off payment within 30 days. This policy adjustment is expected to reduce import costs and encourage importers to import more foreign products to boost market competition and ultimately benefit consumers.

The decision is a complement to a series of new economic policies announced by the Argentine government last December, aimed at promoting trade normalization and compliance with the World Trade Organization’s international rules, marking a major shift in the Argentine government’s economic management strategy, in addressing the high inflation that has long plagued the country.

While announcing these new measures, Adoni referred to the meeting of the Minister of Economy, Caputo, with supermarket representatives earlier this week. During the meeting, the supermarket side acknowledged that commodity prices rose more than inflation expected.

Despite the government’s series of measures aimed at easing price pressure in the short term, a fundamental solution to inflation issues still takes time and a more comprehensive economic strategy. According to the latest data from the National Bureau of Statistics and Census in Argentina, the inflation rate in February was 13.2%, although lower than in the previous months, the annual cumulative inflation rate remained at 276.2%.

This open import policy by the government is aimed at introducing external competition in order to lower domestic product prices. This is not the first time in history, but given the current economic situation, it may be a necessary step. Economy Minister Caputo accused some of the price increases of products of being a transitional expense for the devaluation of the currency last year, and made it clear at a meeting with supermarket representatives that the prices of some products have been much higher than the international level.

Although the policy changes have been challenged by some critics, who fear it could lead to external pressure on domestic markets, many consumers and economic analysts remain optimistic about the new measure and hope that this will bring some relief to the Argentine economy, especially in the context of the current complex international trade environment and domestic economic challenges.

Ultimately, the success of this open import policy will depend on a number of factors, including government enforcement, domestic and international market responses and support for other macroeconomic policies.The government and consumers in Argentina are eager to see if these new measures will the expected effect of bringing more economic benefits to Argentine families while controlling inflation.