Australian lithium producers could receive a boost over some South American rivals, after the Argentinian government flagged plans to impose a new tax on exports.

New austerity measures announced by Argentine President Mauricio Macri will see exports of primary products, including agricultural goods, hit with an export tax of 4 pesos (14.6¢) for each US dollar of value exported, while other exports will be taxed at 3 pesos (10.9¢) per US dollar.