Trump says US won’t ‘waste our time’ with Argentina if Milei loses midterms
WASHINGTON: US President Donald Trump said on Tuesday (Oct 14) that American support for Argentina would depend on President Javier Milei’s party winning this month’s midterm elections, warning that Washington would “not waste our time” if he loses.
Trump’s comments came as he met Milei at the White House, just days after the United States unveiled a major $20 billion financial lifeline for Argentina, a move aimed at stabilising its currency and economy amid mounting political uncertainty.
“I’m with this man because his philosophy is correct, and he may win it,” Trump said ahead of a working lunch with Milei and senior cabinet officials. “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 remarks rattled Argentine markets, which had surged following the US support announcement. The country’s main stock index fell about 2 percent after Trump’s comments, reversing earlier gains.
US AID PACKAGE UNDER SCRUTINY
Treasury Secretary Scott Bessent, who attended the meeting, said the aid package was tied to Milei maintaining his current economic reforms.
“Going back to Peronist policies would cause a rethink,” Bessent said, but added that US assistance was not contingent on Argentina ending its currency swap deal with China.
“American assistance to Argentina is not predicated on ending the swap with China,” he said.
The package marks an unusual intervention by Washington, which has largely avoided large-scale foreign bailouts under Trump. The administration framed the deal as a strategic move to bolster a key regional ally, though it has drawn criticism from Democrats and US farmers.
Democratic lawmakers accused Trump of prioritising foreign bailouts over domestic spending while the government remains shut down. Meanwhile, US soybean producers complained that China had shifted some of its imports to Argentina this year, undermining American farmers.
TRUMP WARNS ON CHINA
During his meeting with Milei, Trump also addressed US-China relations, saying Washington had to remain “careful” despite what he described as a fair relationship with President Xi Jinping.
“We have to be careful with China. Look, I have a great relationship with President Xi, but sometimes it gets tested,” Trump said. “China likes to take advantage of people, and they can’t take advantage of us. But we have a fair relationship with China, and I think it will be fine.”
MILEI’S CHALLENGE AHEAD
The US financial package could offer Milei a political boost ahead of the crucial midterm elections. His party suffered a major provincial loss last month, and a defeat in the upcoming vote could cripple his ability to govern.
Trump has called Milei his “favourite president”, and the Argentine leader was among the few foreign heads of state present during Trump’s inauguration.
The deepening alliance underscores Washington’s willingness to back an ideological ally in Latin America, but Trump’s warning suggests that continued support hinges squarely on Milei’s electoral survival.
