On Thursday, February 5, 2026, the U.S. and Argentina signed a landmark trade agreement  that opens new duty-free export quotas for U.S. beef, dairy, nuts, and potatoes. The deal, struck between President Donald Trump and Argentine President Javier Milei, is being hailed as a strategic win for U.S. agriculture-though it notably excludes any deal on allowing Argentine beef into the U.S.

The agreement provides duty-free access for U.S. agricultural products through clearly defined tariff-rate quotas (TRQs), including:

• 80,000 metric tons of U.S. beef annually, divided into quarterly tranches

• 1,000 metric tons of U.S. cheese

• 870 metric tons of almonds

• 40 metric tons of shelled pistachios + 40 metric tons unshelled

• 690 metric tons of frozen potatoes + 1,100 metric tons unfrozen

These quotas will be allocated on a first-come, first-served basis, giving agile exporters a clear opportunity to reach Argentine buyers early and often.

Despite earlier hints from Trump in October 2025 about possibly lowering U.S. beef prices by importing Argentine meat, the final text does not include any tariff-rate quota for Argentine beef.

That proposal had triggered outcry from U.S. ranchers and the domestic cattle industry, fearing downward pressure on prices and long-term competition. The agreement instead states that the two nations will "finalize negotiations" on this issue at a later date.

For now, the U.S. keeps its beef market closed to Argentina, avoiding political risk ahead of the 2026 midterms and keeping domestic livestock interests aligned with the administration.

The agreement goes beyond just beef and dairy. It includes broader trade cooperation on food safety and labeling, such as:

• Argentina agreeing to resume U.S. poultry imports within one year, reversing restrictions tied to avian flu

• Recognition of USDA's FSIS food safety system, streamlining U.S. meat and poultry exports

• Protection of U.S. geographical indications for certain cheeses and meats

In exchange, the U.S. will eliminate tariffs on Argentine goods not produced domestically, like spices, cork, aircraft parts, and pharmaceuticals.

With high input costs, global commodity price uncertainty, and rising competition from Brazil and Australia, opening the Argentine market offers a crucial win for American ag exporters-especially in beef and specialty crops.

This is also part of a broader Trump administration strategy to use bilateral trade deals to bypass multilateral gridlock and secure tangible market gains for U.S. producers.

U.S. Trade Representative Jamieson Greer called it a "model partnership" and said the deal demonstrates how countries across the Americas can align on trade and security from Alaska to Tierra del Fuego.

While the deal delivers immediate benefits for exporters, the unresolved beef import issue still looms. Any future decision to open U.S. markets to Argentine beef would carry serious implications for:

• Cattle markets and livestock pricing

• Consumer beef prices

• Domestic food safety standards

Producers, trade groups, and lawmakers will be watching closely as the U.S. and Argentina resume negotiations on this point.