Based Politics co-founder Brad Polumbo discusses how Argentina’s citizens elected a new libertarian president in “The Bottom Line.”
The Trump administration on Tuesday doubled the economic lifeline it extended to Argentina last week, a $20 billion currency swap seen as a strategic move to strengthen ties with Buenos Aires and support its efforts to stabilize the faltering economy.
“We want to help Argentina,” the president said Donald Trump This came during a bilateral lunch meeting with Argentine President Javier Miley. “We want to see it succeed,” Trump said, noting that the free trade agreement could be part of a broader economic discussion with the United States. south america Nation.
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US President Donald Trump said he would fully support Argentine President Javier Miley. (Kevin Deitch/Getty Images)
The two leaders have developed a remarkably close relationship. Miley was the first foreign head of state to visit Trump after his re-election in 2024, as she traveled to Mar-a-Lago to congratulate him personally.
This relationship forms part of a broader pattern in Trump’s diplomacy, where personal relationships often shape policy outcomes. Finnish President Alexander Stubb struck a similar chord, joining Trump for a meeting A round of golf at Mar-a-Lago That helped cement their friendship ahead of the $6 billion icebreaker deal.
Finnish President Alexander Stubb turned the corridor into a diplomatic fast track. (Nathan Howard/Reuters)
Since then, their frequent text exchanges have evolved into tangible cooperation – from defense contracts to Arctic initiatives – which has strengthened Finland’s standing in Washington.
Fair passages, friendship and a $6 billion deal: How Finland’s president found a partner in Trump
Last week the Treasury Secretary Bet Scott It unveiled a currency swap agreement worth $20 billion with the Argentine Central Bank, aiming to stabilize the peso by exchanging it for the US dollar.
“We will not ignore our allies,” Besant said during the bilateral meeting. “We are using our economic strength to achieve peace.”
Treasurer Scott Besent announced a $20 billion currency swap on X on October 9. (Kevin Deitch/Getty Images)
Trump said the currency swap agreement could “turn your country into greatness.”
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He added that American economic support is conditional on Miley and his policies continuing to rule Argentina.
“If he loses, we won’t be as generous to Argentina,” Trump said of Miley, whose party faces tough midterm elections on October 26. “You’re going to win the election,” Trump said, adding that he fully supports Miley.
“It would be a shame to lose this progress,” he added.
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