Former President Trump met Argentina’s new leader Javier Milei, announcing a $20 billion economic bailout. The talks signal closer U.S.-Argentina ties and could pave the way for a future free trade deal, linking financial support to Milei’s recent election victory.

Buenos Aires

Donald Trump has pledged $20 billion in U.S. financial support to help stabilize Argentina's struggling economy following a meeting with Argentine President Javier Milei. However, Trump stated that the aid is contingent on Milei's success in the upcoming legislative elections, indicating that U.S. support may not continue if a left-leaning candidate wins.

President Milei, who has implemented austerity measures amid economic difficulties and political scandals, welcomed the U.S. backing as a crucial lifeline. Critics, particularly those aligned with the opposition, have described the conditional support as political interference rather than genuine economic assistance. The outcome of the legislative elections will determine whether Milei can advance his reform agenda or face significant legislative obstacles.

Trump pledges $20B bailout for Argentina after Milei talks

Donald Trump has become Argentine President Javier Milet's loudest cheerleader on the global stage. But during their meeting at the White House on Tuesday, Trump tied US support to the results of legislative elections taking place at the end of the month. The president doesn't win. I know the person that he'd be running against, I believe, probably. We probably have the person. The person is extremely far left and a philosophy that got Argentina into this problem in the first place. So we would not be generous with Argentina if that happened. Trump's administration has already promised $20 billion to prop up Argentina's struggling economy and has vowed to do whatever is necessary to prevent another financial crisis. Javier Milet came to power promising to transform this country's economy and has implemented a sharp austerity plan. In the past months, he has struggled with a faltering economy, corruption scandals and sinking popularity. Many in Argentina are angry with Javier Milet's austerity program and they're hoping that his reforms will translate into better jobs and wages. And even though the United States financial support won't help solve Argentina's endemic economic program, it certainly helps Javier Milet stop the erosion among voters in the weeks ahead of the legislative elections later this month. The results of the elections will dictate whether Milet can pass key reforms or will face a legislative brick wall for the last two years of his term. Some economies close to the opposition call the U.S. support an extortion and an act of political support for Milet and not for Argentina. It's very serious because supposedly they want to give support to the economy. If it's tied to politics, what happens if someone else wins and there's a different government? The U.S. should give us stability, not uncertainty. But for Javier Milet, the meeting with Trump is a political and economic lifeline. I want to congratulate you for the work and for understanding the threat that 21st century socialism represents around the world, especially in Latin America. And I also want to deeply thank Secretary Besent for the enormous effort he has made to help overcome the liquidity problem in Argentina. The Trump-Milet alliance represents a significant test for Argentina and the broader region, raising questions about whether U.S. support will translate into economic growth. Teresa Bo, Al Jazeera, Buenos Aires.

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