Interest is high in Argentina as an emerging economic power in the Americas. This paper analyzes issues pertinent to the relative advantages and disadvantages between the United States and Argentina for producing, transporting, processing and marketing major agricultural commodities in the context of distribution to significant global markets. Designed as a tool for agribusiness students and prospective investment and trade partners, it outlines Argentina's economic, financial, and political history. The paper focuses on the past 15 years, with emphasis on the trade-related economic and political reforms in the presidencies of Carlos Menem and Fernando de la Rua. Appendices give background on two wars, the "Dirty War" and the Falkland Islands War, and outline the participation of Argentina as a founding member of Mercosur, a customs union.