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LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

October 1, 2025

What’s Behind Trump’s Backing of Argentina?

The administration of U.S. President Donald Trump is offering economic support to Argentina’s government. Trump and Argentine President Javier Milei met last week in New York. // File Photo: @OPRArgentina via X.

Q

  • The U.S. Treasury is in negotiations with Argentine officials for a $20 billion swap line with the South American country’s central bank and is working with President Javier Milei’s government in order to “prevent excessive volatility,” U.S. Treasury Secretary Scott Bessent said in a social media post on Sept. 24. The comments from Bessent, who also said the United States “stands ready to purchase secondary or primary government debt,” came a day after he, U.S. President Donald Trump and Secretary of State Marco Rubio met with Milei and other top Argentine officials on the sidelines of the U.N. General Assembly in New York. What are the main reasons behind the Trump administration’s economic support plans for Argentina? To what extent will the U.S. measures aid Argentina’s economy? What are the biggest economic challenges currently facing Argentina?

A

Thiago de Aragão, CEO of Arko International Public Affairs: “The Trump administration’s push to support Milei is about power politics as much as economics. Washington doesn’t want Argentina drifting further into China’s orbit, especially since Beijing is the number one buyer of Argentine soybeans and has already made inroads in infrastructure and finance. By dangling a $20 billion swap line and signaling that the U.S. Treasury could even step in to buy Argentine debt, the White House is trying to anchor Milei firmly to Washington. It is both a vote of confidence and a way to test Buenos Aires’ willingness to follow through on a quieter rupture with Beijing. For Argentina, this is oxygen. Reserves are thin, the peso is sitting right at…”

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The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
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