Fate is the latest in a series of closures affecting major companies
The recent shutdown of Fate, an 86-year-old tire manufacturer that employed more than 900 people, is far from being an isolated case in Argentina. Official figures show that factories in the country are working at half of their capacity and that, since Javier Milei took office in December 2023, over 20,000 companies have closed. Fate’s closure is part of a wave that is not only affecting small and medium enterprises, but major companies as well.
“A lot of companies are shutting down, especially in the Buenos Aires area,” said Florencia Fiorentin, chief economist at the Epyca consulting firm. “Basically, a drop in demand is combined with import liberalization — thus, companies are not selling.”
Alejandro Assuma, the Fate representative at SUTNA, the tire workers’ union, said that the conflict started in 2024, when the company laid off 100 people. Media reported that the national administration blamed SUTNA for Fate’s shutdown, but Assuna rejected the idea. “At this moment, Fate has high production, a huge economic holding company with enormous backing with the aluminum company Aluar and energy companies — they are moving their investments to the energy sector,” said Assuma.
The tire and aluminium industries are about to get torn apart by ridiculously cheap chinese imports. China good, but for local industry workers whose entire material life hangs on being employed in said industries... maybe not so good.
The latest report by the statistics bureau, the INDEC, showed that energy is one of the few sectors that grew from December 2024 to December 2025. The report also said that the industry was working at 53.8% of its capacity in December. The sectors that are seeing the worst part are the automotive, plastic, and textile industries, which are only operating at 31.2%, 33.4%, and 35.2% of their potential.
Energy is the only sector that has shown some developments under the zionist-friendly regime of the sister fucker "milei". In fact, Fate's owner decided to shut down it's factory (leaving 900 families without income) and made arrengements to use part of it's installations to build generators and will be making "investments" into the oil industry.
According to Lorenzo Sigaut Gravina, macroeconomics head at the Equilibra consultancy, “big companies, which manufacture finalized products, are the ones directly competing with imports — that’s why they are suffering the impact more.” Sigaut Gravina said that tradable sectors — those exposed to imports and exports — have dropped during President Javier Milei’s presidency. He called the phenomenon a “substitution” of locally made products for imported goods.
Absolute deregulation, no barriers whatsoever for imports and ridiculously cheap foreign currency (USD), a recipe for disaster for thousands upon thousands.
“The economy used to be very, very closed, and it makes sense for it to open up, but… local production is falling and imports and import volumes are increasing. It was logical for imports to increase, but it was not so logical for local production to fall,” he added.
The economist added that in most sectors, including the tire industry, “most imports are coming from China,” even though Milei is a close ally to Donald Trump, who is waging a trade war against the Asian country. Meanwhile, the government seems bent on opening up the economy to imports.
“Some are going to go bankrupt,” said Miguel Boggiano, an economist and adviser to Milei, in an interview with TV station TN. “It’s not pleasant to say this, but neither is it pleasant that 47 million Argentinians have to pay high prices because 500,000 of them have the sacred cow,” he added.
Should be put to death honestly. Everyone who is around milei should be killed at once.
The article doesn't make justice to the numbers though. A lot of small companies, ranging from having 2 or 3 employees to about a dozen, have closed. Low wages, unrelenting imports and a government with genocidal intentions have absolutely shredded them into pieces. And while thousands are losing their jobs and falling into the gig economy and other forms of informal jobs, the government refuses to listen. There is something that is rotting inside the country, people living under constant economic crisis, which couples with a massive mental health crisis and a sharp decline in material conditions is yet another recipe for disaster. I honestly don't know where this will lead, one could say "Duh, revolution" but I just don't know.
And all of this is going on in the midst of a labour reform that not even 1890's industrialists could dream of. I think this country's working class is at the gates of suffering an historic defeat.
Utter destruction and eternal suffering to "israel" as well, never forget about these pieces of shit.
Striking Argentine police officers lynched the police chief who tried to confront them and force them to end the strike in Rosario, Santa Fe. There is dissatisfaction among Argentine police officers, who speak of "starvation wages" due to the economic crisis.
Oh no, that's so terrible. I too have a starvation wage but if I protest these same pigs will happily beat the living shit out of me. Also the Rosario police is notorious for being just another extension of the powerful narco gangs that are there so yeah...
Argentine Foreign Minister Pablo Quirno avoided confirming whether discussions were underway
U.S. Secretary of State Marco Rubio admitted on Wednesday to having “conversations” involving Argentina and other countries about potentially accepting immigrants the Trump administration has decided to deport. Rubio, however, clarified that the two governments do not have “anything lined up” yet. “I know it’s been the subject of media leaks, and sometimes those are with malicious intent, but certainly Argentina is a great partner across the board, and at the end of the day we have tremendous faith and confidence in our relationship with President Milei and his team,” said Rubio.
He also described Argentina as an important partner in various areas and emphasized the strength of the bilateral relationship. Marco Rubio spoke in a press conference opening a State Department-hosted summit with dozens of nations aimed at building a bloc to rebuild global supply chains of the critical minerals without China. His words come five days after The New York Times reported that both countries are working on an agreement to allow the United States to deport immigrants from other nations to Argentina.
The negotiations come as the Trump administration has mobilized a sweeping and aggressive deportation effort, including deploying immigration officers to U.S. cities. According to Argentine media outlets, Argentine Foreign Minister Pablo Quirno, who was present in Washington DC for the summit, has declined to answer questions about reports of negotiations over immigrants.
Critical minerals under the spotlight
Ministers from over 50 countries are attending the United States’ summit on critical minerals this week in Washington, DC. The meeting is the first of the new Critical Minerals Ministerial, a U.S. initiative to build alliances aimed at countering China’s control over critical mineral supply chains around the world.
Officials are seeking to strengthen and diversify their nations’ stockpiles of critical minerals, which are used to manufacture batteries, clocks, wiring, military hardware, and semiconductors, among other technological products, essential for the defense industry and for the development of artificial intelligence. Marco Rubio proposed frameworks that will serve as “platforms for coordinating policies” to ensure countries can have abundant and affordable access to critical minerals. Argentina was invited to the summit due to its vast resources of critical minerals. The sector has been a priority for President Milei’s economic plan, as his government has signaled it as a key for economic growth.
Several moves over the past recent months also indicate that Argentina seems to be moving away from a decades-long opposition to mining and other activities perceived as harmful to the environment, in favor of an approach that places greater emphasis on urgently needed economic development and growth.
President Javier Milei filed a bill that modifies a law that protects glaciers, with the goal of loosening barriers on mining. Mendoza has also greenlit what will become the first copper mining project in the province in two decades — which environmental activists say could potentially contaminate the water in the Uspallata area. In Washington, DC, Minister Quirno confirmed a new investment of US$14 billion dollars by Anglo-Swiss multinational commodity trading and mineral company Glencore, under the new RIGI investment regime.
Secretary of State Rubio emphasized the importance of Argentina’s place in the plan. He pointed to the country’s capacity “to be a key partner in minerals critical to the world, not just the United States.” He emphasized its geology and geographic location as one of the global leaders. “Furthermore, its location in the Western Hemisphere has strategic value not only for Argentina but also, obviously, for the United States,” he concluded.
What is this country even about anymore? Why even have our own flag, anthem, army and so on, why not just become like Puerto Rico and be done with it?
Never before in history a nation has capitulated to another with such enthusiasm, never before I have seen or heard of a nation BEGGING to be annexed by another just because they believe in fantasy. Imagine wanting to be annexed by a pedo nation like the United States of America.
Remember two simple principles: Nuclear Weapons and Strong Party Discipline. In a world where your biggest enemy is a nuclear-armed genocide-loving superpower you will NOT get second chances, you CANNOT hesitate.
Therefore I offer my humble salute to the DPRK and China for maintaining their decades-long national policies (NON-NEGOTIABLE) of acquiring nuclear weapons and maintaining strict party discipline.
I fucking hate it because thanks to this war I lost a job opportunity that would have taken me out this poverty-like situation i am in rn.