President Trump on Tuesday said his administration's plans to provide economic assistance to Argentina is contingent on whether his ally, Argentinian President Javier Milei, remains in power.
"If he loses, we are not going to be generous with Argentina," Trump said during a meeting with Milei at the White House.
"If he does win, we’re going to be very helpful," Trump added. "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."
Milei, who has been a staunch Trump ally and attended January's inauguration, is facing a critical midterm election later this month. While Milei himself is not up for re-election, it will be the first legislative elctions since he took office in late 2023.
The Trump administration last week finalized a $20 billion currency swap with Argentina's central bank. Treasury Secretary Scott Bessent said the U.S. was prepared to take "whatever exceptional measures are warranted" to stabilize markets in Argentina.
Bessent said Tuesday at the White House that the U.S. assistance was meant to assist Milei in his attempts to reorient Argentina's economy with his policy agenda.
"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. "So we think this is an opportunity for the Argentinian people, we think President Milei is the one to do it."
But the Trump administration's approach has drawn bipartisan criticism. The U.S. government is shut down, and some lawmakers, including Sen. Chuck Grassley (R-Iowa), have expressed frustration that Argentina is selling soybeans to China, hurting American farmers.
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