by Wallace White
Argentine President Javier Milei scored a major win in the nation’s elections Sunday, doubling his party’s share of Congress on the heels of a multibillion-dollar economic bailout deal from the Trump administration.
Milei’s Freedom Advances party is set to double their share in the Argentinian Congress, earning a mandate for his massive free-market reforms and the veto power to defend them, after his coalition secured more than a third of seats in both chambers. Milei has been in talks with President Donald Trump and the administration to obtain a mammoth $40 billion bailout to relieve his nation’s mounting financial pressures.
“BIG WIN in Argentina for Javier Milei, a wonderful Trump Endorsed Candidate!” Trump said on Truth Social Monday morning. “He’s making us all look good. Congratulations Javier!”
Milei embarked on a massive campaign after his election in 2023 to gut government programs and slash regulations to bring the nation’s economy out of stagnation and runaway inflation. However, the treasury is running dry, and with mounting payments on debt looming, Argentina reached out to secure a bailout from the U.S.
While inflation in Argentina remains high, the rate has fallen from over 130% in 2023 to 41.3% in 2025, according to International Monetary Fund statistics.
Treasury Secretary Scott Bessent is strongly encouraging Argentina to cut its economic ties with China in light of the generous payout, people familiar with the conversations told the Wall Street Journal.
“The United States supports Argentina’s efforts to stabilize its economy and President [Milei]’s ambitious reform agenda,” the State Department said on X Monday. “We continue to work with Argentina to foster consensus and implement sustainable reforms to deliver long-term economic stability and prosperity for its people.”
After America helped bail out Argentina’s economy, the South American country struck a deal with China to increase the number of soybean cargoes it purchased to 20, according to Axios.
China buying more soybeans from Argentine farmers hurts American farmers, as the communist country was America’s biggest buyer of the product. Last year, China bought 51% of American soybean exports, but this year through August, it is down to 29%.
American Soybean Association President Caleb Ragland stated the country’s “soybean farmers have been clear for months: the administration needs to secure a trade deal with China.”
“China is the world’s largest soybean customer and typically our top export market. The U.S. has made zero sales to China in this new crop marketing year due to 20% retaliatory tariffs imposed by China in response to U.S. tariffs. This has allowed other exporters, Brazil and now Argentina, to capture our market at the direct expense of U.S. farmers,” Ragland stated.
“The frustration is overwhelming. U.S. soybean prices are falling, harvest is underway, and farmers read headlines not about securing a trade agreement with China, but that the U.S. government is extending $20 billion in economic support to Argentina while that country drops its soybean export taxes to sell 20 shiploads of Argentine soybeans to China in just two days,” he added.
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Wallace White is a reporter at Daily Caller News Foundation. Zachery Schmidt is the digital editor of The Star News Network and contributed to this story.
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