New Delhi, Feb. 6 -- Argentina and the United States agreed Thursday to ease restrictions on each other's goods in an expansive trade deal that boosts a drive by President Javier Milei to open up Argentina's protectionist economy and a push by the Trump administration to reduce food prices for Americans.

The deal, which slashes hundreds of reciprocal tariffs between the countries, also reflects the importance of Milei's ideological loyalty to U.S. President Donald Trump, even as the chronically distressed South American nation long isolated from the global economy has little to offer Washington in the way of economic reward or geopolitical clout.

Argentina's radical libertarian leader has gone to dramatic lengths to prove his devotion t...