Argentine President Javier Milei has confirmed that his administration is currently engaged in negotiations with the United States to secure a comprehensive trade agreement, suggesting a mutual interest in enhanced bilateral commerce. Milei indicated that the U.S. side has shown a strong willingness to extend favorable trade terms to Argentina, signaling a strategic recalibration of the economic relationship between the two nations.
This diplomatic engagement is underpinned by concrete financial actions. U.S. Treasury Secretary Scott Bessent recently disclosed that the American Treasury has resumed purchasing Argentine pesos on the open currency exchange market. Furthermore, Secretary Bessent detailed ongoing collaboration with major investment funds and banking institutions to structure a significant $20 billion facility. This fund is specifically designated for the sustained acquisition of Argentine sovereign debt, a move interpreted as a vote of confidence in the country's fiscal direction and a measure intended to stabilize its financial structure. This resumption of peso purchases follows earlier intervention and the finalization of a $20 billion currency swap arrangement with Argentina's central bank.
The intensification of this high-level economic partnership occurs alongside a clear political dynamic. Former President Donald Trump has repeatedly voiced his endorsement for President Milei, framing the current financial and trade overtures as strategically linked to the present political mandate. Trump has explicitly stipulated that should Milei's party not secure victory in the upcoming midterm elections, the U.S. would cease dedicating resources and attention to Argentina, stating they would "no longer waste time on Argentina." The country is scheduled to hold these critical midterm legislative elections on October 26.
These recent financial maneuvers build upon a foundation of prior economic scaffolding. Previous reports indicated that the U.S. International Development Finance Corporation (DFC) had explored infrastructure and clean energy investments in Argentina. The current atmosphere reflects a mutual choice by both nations to foster pathways for interconnected economic growth and stability, with the U.S. support measures underscoring backing for Milei's ongoing economic reforms.