President Trump, back from the Middle East, met at the White House Tuesday with Argentine President Javier Milei. The meeting comes after the Trump administration agreed to provide Argentina with a $20 billion lifeline — a move that critics charge is just meant to prop up the embattled government led by Milei, a controversial Trump-aligned politician who has overseen painful economic reforms.
Trump today threatened to pull the financial support if Argentina shifts away from Milei in upcoming legislative midterm elections. “If he loses, we are not going to be generous with Argentina,” Trump warned.
Democrats have blasted the bailout, using it to mock Trump’s “America First” promises and attack the administration for the government shutdown. “I have just one question,” Senate Minority Leader Chuck Schumer said on the Senate floor. “If this administration has $20 billion to spare for a MAGA-friendly foreign government, how can they say we don’t have the money to lower healthcare costs here at home?”
Sen. Elizabeth Warren of Massachusetts on Tuesday sought unanimous consent to pass the “No Argentina Bailout Act.” When her request was blocked by Republican Sen. Tim Scott of South Carolina, Warren unleashed a tirade against the administration.
“Even while the Trump administration is trying to fire more people and shut down more services, Trump is carefully keeping open the office at the Treasury Department responsible for executing his bailout of Argentina’s financial markets,” Warren said. “For Trump, the leader of Argentina is more important than American families struggling with rising costs for health care.”
Republican Sen. Chuck Grassley of Iowa has also criticized the bailout because China has been buying soybeans from Argentina. “Why would USA help bail out Argentina while they take American soybean producers’ biggest market???” Grassley wrote on X last month. “We shld use leverage at every turn to help hurting farm economy Family farmers shld be top of mind in negotiations by representatives of USA.”