President Donald Trump on Sunday forcefully defended his administration’s efforts to secure $40 billion in financial assistance for Argentina, saying the country is “fighting for its life” and that the United States should stand by one of its key allies in South America.
Speaking aboard Air Force One, Trump bristled when asked by a reporter about the scale of the planned assistance. “Argentina’s fighting for its life, young lady, you don’t know anything about it,” he said. “They’re fighting for their life. Nothing’s benefiting Argentina.”
Trump went on to describe Argentina’s dire financial situation in stark terms. “They have no money, they have no anything,” he said. “They’re fighting so hard to survive. If I can help them survive in a free world — I happen to like the president of Argentina, I think he’s trying to do the best he can. But don’t make it sound like they’re doing great.”
The remarks came as the Trump administration seeks to finalize a package of economic measures intended to stabilize Argentina’s economy under President Javier Milei, a self-described libertarian who has vowed to rein in government spending and restore fiscal discipline.
The plan includes a total of $40 billion in potential financing from a mix of sources.
Earlier this month, Washington secured a $20 billion currency swap line with Argentina’s central bank to help bolster the country’s foreign reserves and ease the pressure on its collapsing peso.
The move was widely seen as a signal of confidence in Milei’s economic reforms, which have drawn both praise and controversy for their free-market approach.
Treasury Secretary Scott Bessent confirmed last week that the administration is working to provide an additional $20 billion, combining funds from private financial institutions and sovereign wealth funds. “We are working on a $20 billion facility that would complement our swap line, with private banks and sovereign funds that, I believe, would be more focused on the debt market,” Bessent told reporters. “Many banks are interested in it and many sovereign funds have expressed interest.”
Supporters of the plan say the initiative underscores Trump’s commitment to promoting economic stability and defending free-market allies in the Western Hemisphere.
The Trump administration has described Milei as a leader seeking to pull Argentina away from decades of socialist economic policies and align more closely with the United States.
Still, not everyone in Washington supports the effort. Rep. Marjorie Taylor Greene, Republican of Georgia, criticized the administration for considering what could amount to $40 billion in financial backing.
She warned against using American taxpayer dollars to prop up foreign governments when many citizens at home are struggling with inflation and high costs of living.
“Argentina should not benefit by way of taxpayer dollars as Americans are challenged at home,” Greene said.
While details of the financing plan remain under discussion, Trump’s emphatic defense of Argentina reflects his continued belief that strong, free-market democracies in Latin America are vital to U.S. interests. As he put it bluntly aboard Air Force One, “They’re fighting for their life — and I’m not going to stand by and let them fall.”
[READ MORE: Thomas Massie Challenger Chosen By Trump]
