Argentine Industrial Union President Martín Rappallini Hit Back at Economy Minister Luis Caputo on Thursday After the Minister Harshly

Caputo made the remarks last Wednesday while defending his economic plan, pointing to growth in energy, mining, agriculture, and knowledge sectors even as manufacturing faces one of its worst slumps in years. Consultancy data shows manufacturing dropped 1.8% in the first semester of 2026, with over 26,000 companies shutting down since President Javier Milei took office, including historic tire maker Fate. Caputo argued the sector was already in crisis despite receiving substantial support under previous governments, including energy subsidies and what he called "the subsidies of we the Argentine people, who had overpaid "like fools" for its products.

"Even though people were paying double, triple, or quadruple, and even though they were getting energy subsidies, the industry declined by 10%. For all the idiots who talk about the industry, he said. He stressed that energy, mining, agriculture, and knowledge sectors are "sources of foreign exchange that underpin macroeconomic stability, bringing in dollars whose scarcity has fueled Argentina's recent economic turmoil.

Rappallini, speaking on Radio Mitre, said the UIA has highlighted "issues that affect competitiveness, including taxes, labor costs, infrastructure, and access to financing, and argued that supporting industry is not "incompatible with defending macroeconomic stability. He called for recognition of "industrial entrepreneurs who invest in innovation and exports, adding: We're not asking for special treatment, nor are we asking for currency devaluations; we're asking for greater competitiveness and a level playing field.