Trump Says $20 Billion Aid for Argentina Depends on a Milei Election Victory
\nPresident Donald Trump (L) greets Argentinian President Javier Milei at the White House on Oct. 14, 2025. Madalina Kilroy\/The Epoch Times
\nAndrew Moran
\nAndrew Moran
\n10\/14\/2025|Updated: 10\/14\/2025
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President Donald Trump says U.S. financial assistance for Argentina depends on the South American nation\u2019s election outcome this month.<\/p>\n
Trump endorsed Argentinian President Javier Milei on Oct. 14, backing the anti-establishment libertarian leader amid Argentina\u2019s deepening financial troubles.<\/p>\n
The two met at the White House as Milei seeks international support for his sweeping economic reforms. Their meeting comes just weeks before Argentina\u2019s pivotal midterm elections, which could determine the fate of Milei\u2019s reform agenda.<\/p>\n
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\nThe United States recently approved a $20 billion economic rescue package\u2014composed mainly of currency swaps\u2014contingent on the election outcome and Milei\u2019s ability to advance his austerity program.
\n\u201cI\u2019m with this man because his philosophy is correct, and he may win, he may not win. But I think he\u2019s going to win, and if he wins, we\u2019re staying with him, and if he doesn\u2019t win, we\u2019re gone,\u201d Trump said.<\/p>\n
\u201cBecause if a socialist wins, you\u2019d feel a lot differently about making an investment.\u201d<\/p>\n
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\nExpressing support for his administration\u2019s financial aid, Trump stated that he is \u201cjust helping a great philosophy take over a great country.\u201d<\/p>\n
Over the past two years, Milei has secured several victories at home, including bringing down inflation from astronomical heights and posting the first budget surplus in 14 years.<\/p>\n
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\nU.S. Treasury Secretary Scott Bessent called the financial lifeline a \u201cbridge\u201d to ensure that Milei can maintain \u201cstrong policies so that Argentina can be great again.\u201d<\/p>\n
Since Milei and his La Libertad Avanza experienced electoral defeat in last month\u2019s provincial elections, the Latin American country has been facing a deepening cash crunch, requiring government intervention to halt the hemorrhaging.<\/p>\n
Stocks, bond prices, and the peso have endured tremendous volatility on fears that Milei\u2019s power will erode and could face legislative hurdles to employing his reforms.
\nMilei will face his first midterm elections on Oct. 26, when 127 seats in the Chamber of Deputies and 24 seats in the Senate are contested.<\/p>\n
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\nRecent movements in predictive markets suggest that the president and his party are gaining momentum. Conversely, the left-leaning Peronist-Kirchnerist coalition has seen its support erode this month.<\/p>\n
\u201cGoing back to Peronist policies would cause a rethink,\u201d Bessent said.<\/p>\n
Peronism has been rooted in the socialist ideology of Juan Peron\u2014the 29th president of Argentina\u2014shaped by the combination of income redistribution, welfare, and nationalism.<\/p>\n
Still, Trump expressed confidence that Milei will perform well in the electoral contest.<\/p>\n
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\n\u201cYou\u2019re going to win the election, we\u2019re going to endorse you, I\u2019m going to endorse you today, fully endorse you,\u201d Trump said, adding that \u201cour approvals are somewhat subject to who wins the election.\u201d
\n\u2018China Likes to Draw Wedges\u2019
\nTheir meeting at the Oval Office comes at a time when China, the world\u2019s largest soybean buyer, has not purchased the agricultural commodity from American farmers.
\nAccording to data from the Department of Agriculture, China has not bought soybeans from the United States this year. Instead, Beijing has redirected many of its purchases to Argentina, which has resulted in American farmers struggling to sell their crops.<\/p>\n
President Donald Trump speaks during a meeting with President of Argentina Javier Milei in the Cabinet Room at the White House on Oct. 14, 2025. (Kevin Dietsch\/Getty Images)
\nPresident Donald Trump speaks during a meeting with President of Argentina Javier Milei in the Cabinet Room at the White House on Oct. 14, 2025. Kevin Dietsch\/Getty Images
\nWhen asked whether the Chinese regime is doing this to cause friction between the United States and Argentina, Trump said this is likely China\u2019s strategy.<\/p>\n
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\n\u201cChina likes to draw wedges,\u201d Trump told reporters during a bilateral lunch between the two leaders. \u201cI guess that\u2019s natural. It\u2019s China, and it\u2019s natural. But it\u2019s not going to mean anything in the end.\u201d
\nBut while U.S. support has been paramount to prevent further deepening of Argentina\u2019s cash crunch, the White House has also vowed to help farmers.<\/p>\n
\u201cThe Soybean Farmers of our Country are being hurt because China is, for \u2018negotiating\u2019 reasons only, not buying,\u201d Trump said in a Truth Social post earlier this month. \u201cIt\u2019s all going to work out very well.\u201d<\/p>\n
Trump noted that he will make soybeans a top subject in his upcoming meeting with Chinese leader Xi Jinping. The president has also committed to using tariff revenue\u2014above $200 billion this fiscal year\u2014to help U.S. farmers, although details have not been provided.<\/p>\n
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\nBessent, in an interview with Fox News this past week, stated that Milei has \u201ccommitted to getting China out\u201d of Argentina.
\nOver the past decade, the Chinese regime has extended its influence over Argentina and Latin America.<\/p>\n
Former Argentinian President Alberto Fern\u00e1ndez bolstered economic and diplomatic relations with China, allowing significant Chinese investment and strategic cooperation in various sectors. As part of Beijing\u2019s Belt and Road Initiative\u2014a global infrastructure initiative to reshape trade and economics\u2014Chinese firms, using state-backed finances, have invested in lithium mining, nuclear energy, and hydroelectric dams.<\/p>\n
Despite the administration\u2019s aims of reducing Argentina\u2019s dependence on the world\u2019s second-largest economy, Bessent clarified to the press that the $20 billion package is not predicated on Buenos Aires ending its currency swap arrangement with China.<\/p>\n
Bessent suggested, however, that U.S. assistance might be limited if Argentina does not curb Chinese presence at ports, military bases, and observation facilities that have been created in recent years.<\/p>\n","protected":false},"excerpt":{"rendered":"
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