U.S. President Donald Trump factors a finger as he welcomes Argentina’s President Javier Milei on the White House in Washington. | Photo Credit: Reuters
The feedback got here throughout a gathering with Argentine President Javier Milei, whose nation is about to carry midterm elections for its legislative physique later this month. U.S. Presidents sometimes don’t weigh in on the candidates in different nations’ democratic elections.
Referring to an opponent that was “extremely far-left” who encompassed a “philosophy that got Argentina into this problem in the first place”, Mr. Trump warned that the United States wouldn’t “waste our time” with largesse towards Buenos Aires if Mr. Milel doesn’t prevail. In addition to the midterms that might be a referendum on his insurance policies, Milel himself is up for reelection in 2027.
“If he loses, we are not going to be generous with Argentina,” Mr. Trump mentioned from the Cabinet Room as he ready to eat lunch with Mr. Milei.
Mr. Trump pressured that the $20 billion help to Argentina, which administration officers strenuously deny is a bailout, was about serving to “our neighbours”. The help, he added, is “just helping a great philosophy take over a great country”.
U.S. Treasury Secretary Scott Bessent added that the administration believed Mr. Milei’s coalition within the upcoming midterms would “do quite well and continue his reform agenda”.
As he opened his lunch with Mr. Milei, Mr. Trump famous that the Argentine president, who’s an economist by commerce, is “MAGA all the way”, that historically refers to his marketing campaign slogan, “Make America Great Again”, however this time, it additionally meant “Make Argentina Great Again”.
Ahead of his White House assembly and through it, Mr. Milei lavished reward on Mr. Trump, deploying a tactic that has helped rework Mr. Milei’s cash-strapped nation into one of many Trump administration’s closest allies.
Mr. Milei, talking in Spanish, mentioned he’s “very honoured, especially in this moment when we are giving thanks for Trump’s great leadership”.
“We can follow a peaceful route and make Argentina a strong example for freedom and prosperity,” Mr. Milei mentioned.
And that bromance has already paid off for Argentina – most not too long ago, to the tune of a $20 billion bailout.
Experts say Milei involves the White House with two clear goals. One is to barter U.S. tariff exemptions or reductions for Argentine merchandise.
The different is to see how the United States will implement a $20 billion foreign money swap line to prop up Argentina’s peso and replenish its depleted international foreign money reserves forward of the essential midterm elections later this month.
In a disaster, turning to Trump
The Trump administration made a highly-unusual resolution to intervene in Argentina’s foreign money market after Mr. Milei’s social gathering suffered a landslide loss in an area election final month.
Along with setbacks within the opposition-dominated Congress, the social gathering’s crushing defeat created a disaster of confidence as voters in Buenos Aires province registered their frustration with rising unemployment, contracting financial exercise and brewing corruption scandals.
Alarmed that this might herald the tip of fashionable help for Mr. Milei’s free-market programme, buyers dumped Argentine bonds and offered off the peso.
Argentina’s treasury started hemorrhaging treasured greenback reserves at a feverish tempo, making an attempt to shore up the foreign money and maintain its change fee inside the buying and selling band set as a part of the nation’s latest $20 billion cope with the International Monetary Fund.
But because the peso continued to slip, Mr. Milei grew determined.
He met with Mr. Trump on September 23 whereas in New York City for the United Nations General Assembly. A flurry of back-slapping, hand-shaking and mutual flattery between the 2 rapidly gave strategy to Bessent publicly promising Argentina a lifeline of $20 billion.
Published – October 15, 2025 05:11 am IST
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