Argentina trade deals with US do not box out China, minister says

BUENOS AIRES, Feb 6 (Reuters) – A deal on critical minerals between Argentina and the U.S. signed this week does not rule out Chinese investment in the country’s mining ‍sector, Argentine Foreign Minister Pablo Quirno said on Friday.

“This, as of today, does not imply that China cannot participate or will not participate in investments in Argentina. In fact, it has investments in Argentina, in minerals,” Quirno said in a press conference.

The agreement was announced after ‌a meeting of more than 50 countries in ‌Washington this week where U.S. Vice President JD Vance proposed a trading bloc for critical minerals, with the U.S. establishing a system creating price floors for the commodities.

The two countries also finalized a reciprocal trade ​and investment agreement on Thursday, with Argentina committing to prioritizing the U.S. as a trading partner for its copper, lithium ‍and other critical minerals over “market manipulating ​economies or enterprises” – a reference to China.

“What this Argentina-United ​States agreement does is that it gives greater predictability so that ‍American companies, which are already the leading investor in Argentina, can increase their investments,” Quirno said.

Standing alongside Quirno, Argentina President Javier Milei”s cabinet chief Manuel Adorni did not directly respond to a question about whether Milei had plans to visit China, ‍referring instead to upcoming visits he will make to the U.S.

Argentina was also seeking more “flexibility” within the Mercosur trade bloc, which also includes Brazil, ‍Paraguay and Uruguay, ‍with Bolivia poised to become a full member, ​Quirno said. He said that the Mercosur trade ​bloc doesn’t ⁠prohibit Argentina from reaching bilateral agreements, like this ‌one, which he said took just over a year to finalize.

The reciprocal trade and investment agreement will have to be approved by Argentina’s Congress but Quirno said parts could go into effect through a presidential decree.

(Reporting by Leila Miller; Writing by Brendan O’Boyle; Editing by Cassandra Garrison ⁠and Mark Porter)