Toto Caputo destroyed the UIA: “I defend the interests of Argentinians, not those of a few”

The Minister of Economy, Luis Caputo, returned from the G20 summit in the United States and responded to the criticisms directed at him by the Argentine Industrial Union. He did so at an event organized by the Freedom and Progress Foundation titled “Winds of Change: Freedom Advances in Argentina and the Americas,” where he defended the economic direction and distanced himself from the demands of the manufacturing sector.

Caputo was direct. “I respect everyone’s opinion. The path we are on is the correct one. We are in a process of reconversion. And of course, in that process, everyone defends their interests. Mine as a minister is to defend the interest of all Argentines, not just some or a particular individual,” he stated. He added that he understands the concerns but that the Government is moving forward “for what is morally right.”

The official also questioned the diagnosis shared by the vice president of the UIA. According to Caputo, the feedback they receive from industries is different: “On the contrary, they say it is time to reconvert, to invest, and that every moment of change generates reaction. We believe it is positive.” He insisted that everyone can think what they want, but that the Executive must do what it considers most just for the whole of society.

In this context, the minister highlighted that among the G20 powers, Argentina is seen as a model to follow. The statement aimed to reinforce the idea that the economic program generates external recognition, despite internal tensions with part of the business community.

The clash with the UIA on Industry Day

Caputo's remarks came hours after the UIA held its traditional event for Industry Day without the presence of high-level government officials. The meeting took place at the Elea Phoenix laboratory plant in Malvinas Argentinas, focusing on tax burden, activity level, delinquency, and competitiveness conditions.

The head of the entity, Martín Rappallini, opened his speech highlighting the importance of being in productive plants. “This is the real economy. It is important to come to the productive plants of the country,” he noted. He then called for leaving behind the disqualifications and aggressions towards those who produce. “We can have differences, even debate what policies Argentina needs, but respect must be a fundamental part of our democratic coexistence,” he emphasized.

Before the event, the vice president of the UIA, Guillermo Moretti, had hardened his tone. “These people do not know the country, they do not know what a factory is,” he stated. And, without naming him, he targeted Caputo: “We are being managed by a debtor, a trader who does not know what a lathe is.” This definition created the context in which the minister decided to respond directly.

Caputo did not shy away from the topic. He reiterated that the process of change generates logical resistances, but that the Government will not alter its course due to sectoral demands. For the minister, the priority remains the general interest and not that of a particular group of economic actors.