Trump Hosts Argentine President At White House, Disburses 20 Billion US Dollars BaiDOOR

JAKARTA - President Donald Trump will host Argentine President Javier Milei at the White House on Tuesday, just days after the US agreed to provide major financial assistance to the South American country.

Earlier this month, Finance Minister Scott Bessent announced US support for a $20 billion currency exchange with the Argentine central bank, exchanging stable US dollars for volatile pesos.

As reported by Reuters on Tuesday, October 14, Bessent is expected to attend the meeting, according to a source familiar with the matter.

The economic rescue route for Argentina marks unusual measures for the US, especially under governments that largely evade massive foreign interventions.

The White House framed the deal as a strategic effort to stabilize key regional allies. However, the deal drew criticism at home.

Many Democratic lawmakers have accused Trump of prioritizing foreign bailout funds and protecting investors while the US government remains closed.

American farmers also voiced frustration, saying China had shifted soybean purchases from US producers to Argentine farmers this year.

Although the details of the agreement are still unclear, the bailout fund could provide Milei with the much-needed political push as he seeks to prevent a deepening economic crisis and strengthen his party's support.

He suffered a major setback last month when his party lost a crucial provincial election and is now facing a crucial part-time vote later this month.

The aid also underscores the extent to which the Trump administration is willing to support political allies who have been in strong ties with American presidents and conservatives in recent years.

Trump called Milei his " favorite president", and the Argentine president was one of two world leaders to attend Trump's inauguration stage.