US Presses Argentina to Curb China’s Influence as $40 Billion Aid Deal Takes Shape

WASHINGTON: The Trump administration is urging Argentina to curb China’s growing influence as the US and Wall Street banks work on a $40 billion financial lifeline for Buenos Aires. Treasury Secretary Scott Bessent has held talks with Argentina’s Economic Minister Luis Caputo about restricting Chinese access to critical minerals and expanding US involvement in Argentina’s uranium sector, sources said.

US Presses Argentina

The discussions come as President Javier Milei’s government faces severe fiscal strain, soaring inflation, and depleting foreign reserves ahead of midterm elections. Under the proposed plan, the US Treasury will provide a $20 billion currency swap, with an additional $20 billion bank-led facility pending final terms.

Officials say the initiative aims to stabilize Argentina while countering Beijing’s economic reach in South America, giving Washington strategic leverage amid escalating US-China trade tensions.

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