Argentina's Economy Minister Luis Caputo stated he has never bought clothes in the country because prices are exorbitant, amid plans to open imports to aid consumers. The remark drew backlash from Claudio Drescher, head of the Argentine Clothing Industry Chamber, who labeled him part of the 'caste' and inexperienced in business.
Luis Caputo, Argentina's Economy Minister, sparked controversy by telling Radio Mitre that 'I never bought clothes in Argentina because it's a robbery.' He attributed this to high local prices and defended recent import liberalization as a way to benefit most Argentines, promote competition, and generate new job opportunities.
Claudio Drescher, president of the Argentine Clothing Industry Chamber, fired back on Radio con Vos. 'He's part of the caste; if he had been an entrepreneur, he would already be bankrupt,' Drescher declared, portraying Caputo as a financier lacking insight into the country's real economy. He added that 'this government has no economic plan. Caputo handles a money table.'
Drescher blamed half of clothing prices on government failures, such as high taxes and financial costs. 'In the price of clothes, half is what governments do wrong; what the caste does wrong is half the price,' he explained. Without those taxes and costs, 'the price of clothes would be half,' he emphasized. He also criticized the government for targeting Argentine business leaders and SMEs in the sector, like Paolo Rocca, without acknowledging their contributions.
Caputo, a recurring figure in past administrations, has faced scrutiny for failing to resolve prior economic issues. Drescher concluded that 'the caste never got it right because the country is in bad shape.' The exchange highlights tensions between trade-opening policies and the domestic clothing industry.
