President Donald Trump met with Argentine President Javier Milei on Tuesday, just days after Washington approved a major financial support package aimed at stabilizing Argentina’s struggling economy.
As Milei arrived, reporters asked Trump if he had a message for the people of Argentina, in which he responded: “We love them. We’ll be here for them. They have a great leader.”
Trump said on Tuesday, however, that support from the U.S. for Argentina hinges on the ruling party of President Milei succeeding in this month’s midterm legislative elections, adding that “we’re not going to waste our time” if Milei’s party doesn’t win. Trump added: “I’m with this man because his philosophy is correct, and he may win it … He may not win, but I think he’s going to win. And if he wins, we’re staying with him. And if he doesn’t win, we’re gone.”
The meeting comes just days after the U.S. agreed to provide a major financial lifeline to the South American nation. Earlier this month, Treasury Secretary Scott Bessent announced that the U.S. would back a $20 billion currency swap with Argentina’s central bank—an agreement that allows the exchange of U.S. dollars for Argentine pesos in an effort to provide financial stability.
As a result of Trump’s remarks after the meeting, Argentina’s main stock market reversed earlier gains, and was down about 2% following the President’s comments. Treasury Secretary Bessent said the package (full details of which have not been announced) is predicated on the continuance of economic policies favored by the Trump administration. Bessent said: “Going back to Peronist policies would cause a rethink,” however he added that the aid package was not dependent on Argentina ending a separate swap line arrangement with China: “American assistance to Argentina is not predicated on ending the swap with China.”
Although specific terms of the financial package have not been made public, the aid could offer Milei an important political boost as he confronts a worsening economic crisis and declining public support. His party suffered a notable defeat in a provincial election last month and now faces a pivotal midterm contest later this month.
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