Argentina’s Milei backs Trump for US midterms, calls vote crucial for West

Milei made the appeal on Wednesday at a Hispanic Heritage gala in Washington, where a Hispanic association gave him an award, ahead of November’s vote.

Conservatives, he said, “cannot give an inch in our reconquest of the hemisphere”, according to Agence France-Presse (AFP).

Milei flew into the US capital on Wednesday for meetings with investors and the gala. He is due to address the US Chamber of Commerce on Thursday.

Trump firmly backed Milei a year ago, when his government also faced crucial legislative elections. He has called Milei his “favorite president”.

That backing, together with a currency swap agreement with the US Treasury, helped Milei to success in those polls, analysts have argued.

The centrepiece of the package, announced by Treasury Secretary Scott Bessent, was a $20bn swap with Argentina’s central bank, in which the US exchanged dollars for pesos. The swap came shortly after Milei’s party lost a key provincial election.

Trump made clear at the time that the support hinged on a Milei victory. “I’m with this man because his philosophy is correct,” he said ahead of a White House lunch with the Argentine leader. “If he wins, we’re staying with him. And if he doesn’t win, we’re gone.”

Trump also warned that the US would not be “generous” if Milei lost. The remarks unsettled Argentine markets, with the main stock index giving up earlier gains and falling about 2 percent, The Associated Press reported.

The package drew criticism in the US. Democratic lawmakers accused Trump of prioritising a foreign bailout while the US government was shut down.