President Trump says US economic assistance to Argentina depends on whether President Javier Milei's allies hold power after the country's upcoming midterm elections. During a White House meeting with Milei on Tuesday, Trump said that continued US support hinges directly on Milei's party maintaining influence, the Hill reports. "If he loses, we are not going to be generous with Argentina," Trump said. "If he does win, we're going to be very helpful," he said. "And if he doesn't win, we're not going to waste our time. Because you have somebody whose philosophy has no chance of making Argentina great again."
"We're not going to let somebody get into office and squander the taxpayer money from this country. I'm not gonna let it happen," Trump said, per the AP. Milei, a vocal Trump supporter, is not up for reelection himself but faces a key test as Argentina holds its first legislative elections since he took office in 2023. The results will determine the level of support his government can count on moving forward. The Trump administration recently agreed to a $20 billion currency swap with Argentina's central bank in an effort to stabilize the country's markets, a move administration officials is not a bailout.
"It's just helping a great philosophy take over a great country," Trump said Tuesday of the assistance. "Argentina is one of the most beautiful countries that I've ever seen, and we want to see it succeed. It's very simple." Treasury Secretary Scott Bessent said the move aims to back Milei's economic overhaul, describing the partnership as a way to "form an economic bridge with our allies." Bessent added that the administration prefers supporting friendly governments over dealing with greater regional instability. "It is much better to form an economic bridge with our allies, people who want to do the right thing, than have to have to shoot at narco-gun boats," Bessent said.
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The assistance, however, has been criticized by lawmakers from both parties, with some concerned about the effect of Argentina's tariff-free soybean sales to China on American farmers. Trump addressed the soybean issue in a Truth Social post Tuesday, saying: "I believe that China purposefully not buying our Soybeans, and causing difficulty for our Soybean Farmers, is an Economically Hostile Act. We are considering terminating business with China having to do with Cooking Oil, and other elements of Trade, as retribution."
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