President Trump hosted Javier Milei, the leader of Argentina, at the White House on Tuesday, just days after the United States agreed to move ahead with a major bailout of the Latin American nation.
The face-to-face meeting between the political allies comes after the Trump administration agreed to provide Argentina a $20 billion lifeline that would come in the form of a currency swap with the nation’s central bank, according to Treasury Secretary Scott Bessent. The details of the bailout remain unclear, but it could provide a political boost for Mr. Milei, who is hoping to stave off a financial crisis and a political disaster for his party.
Last month, the self-proclaimed radical libertarian’s party was hit by a stunning loss in a key provincial election. Mr. Milei’s party faces another crucial midterm election later this month.
“He’s MAGA all the way,” Mr. Trump said at the start of his meeting with Mr. Milei, adding that the president of Argentina was “on the verge of major economic success.”
In Mr. Milei, Mr. Trump has found a political kindred spirit of sorts. He has described the Argentine leader as his “favorite president,” and Mr. Milei was one of only two world leaders onstage at Mr. Trump’s inauguration.
But Mr. Trump’s bailout of Argentina could come with political blowback. Democrats have seized on the bailout to accuse Mr. Trump of helping out a foreign government and wealthy investors while the U.S. government remains shut down.
Major hedge funds, including those led by friends of Mr. Bessent, could benefit financially from the administration’s lifeline for Argentina. Funds at various investment firms, including BlackRock, Fidelity and Pimco, are heavily invested in Argentina, as are investors who worked with Mr. Bessent when he was an investor for George Soros.
American farmers have also criticized the move, given that China has been buying soybeans from Argentine farmers instead of American growers this year.
Mr. Bessent had defended the lifeline, arguing that U.S. business leaders want to deepen ties with Argentina and that the move could help stabilize the Western Hemisphere.
Zolan Kanno-Youngs is a White House correspondent for The Times, covering President Trump and his administration.
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