Elon Musk once again caused confusion online – this time with his take on Argentina’s new import tax cuts. Recently, Argentine President-elect Javier Milei announced a major policy change to reduce taxes on imports.
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As part of his economic reform plan, Milei wants to make imported goods more affordable. From December, he will increase the tax-free limit on international purchases from $1,000 to $3,000. Personal imports will also receive a tariff exemption of up to $400. This move is aimed at opening up the economy and making it easier for shoppers in Argentina.
Elon Musk seemed to think so. In response to a tweet discussing Milei’s idea, he expressed support for the tax cut, simply saying, “Good move.”
The tweet attracted a lot of attention, as many people quickly called out Musk for what they saw as mixed signals: supporting policies in Argentina that appear to be antithetical to the U.S. tariffs promoted by Donald Trump, which Musk has also publicly supported.
For example, one user tweeted: “You supported the presidential campaign of the man who advocated the largest tariff increase in modern American history, Lmao.” Another wrote: “Import taxes = tariffs. Do you support cutting them down elsewhere and raising them here? Shameful hypocrisy.” Alex Cole added to the discourse, writing: “So eliminating tariffs is a good move and Donald Trump adding tariffs is also a good move? Bizarre world.”
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Not everyone saw it as outright hypocrisy. Some X users argued that Musk’s view could be valid if viewed in the context of Argentina’s economy compared to the US
Argentina is facing hyperinflation and a major recession, so cutting import taxes could be a much-needed lifeline to help people afford basic goods. Dan Victor, a CFA, noted: “It’s different for the world’s largest economy than it is for an economy suffering from a deep recession and hyperinflation.”
Another user pointed out that different countries may use different tools for different reasons. “Start studying comparative economic policy. Once you understand that two completely different countries/economies pursuing different policies is normal, this should make a little more sense.”
While some felt Musk was inconsistent, others believed his views could make sense given the drastically different economic situations in Argentina and the United States. The US has a huge, stable economy, while Argentina is struggling to stabilize itself amid economic turmoil.
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This article ‘Bizarro World’ – People Are Really Confused By Elon Musk Praising Argentina’s Javier Milei Cutting Import Taxes originally appeared on Benzinga.com
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