US support for Argentina could hit $40 billion

The Trump administration is considering a $20 billion support package for Argentina, which would total $40 billion in U.S. financial aid. Treasury Secretary Scott Bessent emphasized that the plan includes funding commitments from banks and sovereign wealth funds, not U.S. taxpayer money.

Argentine President Javier Milei's drastic budget cuts have raised concerns among international investors, leading to a sell-off of pesos. In response, the U.S. has started purchasing pesos to stabilize the currency.

Experts warn that even with significant financial aid, systemic issues in Argentina's economy may persist. The conditions for the aid remain unclear, and U.S. officials face criticism for prioritizing foreign support over domestic needs, especially from American farmers affected by trade policies.