The Argentine Senate has narrowly rejected a controversial grain-export tax package.
The lower house approved the tax hikes earlier this month and the Senate's approval was the key remaining step for final ratification. It is unclear what steps the executive will take now. President Cristina Fernandez had decreed a more than 10 percent sliding-scale increase in export taxes on soy and other grains in March. Farmers launched strikes and road blocks to protest the measure, forcing the president to agree to submit the tax package to a vote in congress.
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