US Treasury secretary offers 'full support' to Milei ahead of Buenos Aires visit

United States Treasury Secretary Scott Bessent will travel to Argentina next week to strengthen ties and affirm Washington’s “full support” for  President Javier Milei’s "bold economic reforms."

Bessent will fly to Buenos Aires on Monday, April 14, and has meetings scheduled with President Milei and Economy Minister Luis Caputo. He will also hold talks with “other members of Argentina’s government and business community,” said the US Treasury in a statement. 

The visit comes just days after Argentina and the International Monetary Fund reached a technical-level agreement for a new US$20-billion loan, which could potentially be approved by the IMF’s executive board Friday.

This visit also takes place amid a trade war triggered by US President Donald Trump, who has granted his partners a three-month truce to negotiate “tailored” tariff hikes.

At present, most of the United States’ trading partners – with the exception of China – will be made to pay an additional 10 percent on "reciprocal" duties, including Argentina.

Trump is reportedly willing to negotiate this percentage on a country-by-country basis. He has already imposed 25-percent tariffs on steel and aluminium, as well as similar duties on cars and their components, which are theoretically excluded from the negotiations.

White House Trade Representative Jamieson Greer said this week that Argentina was among a host of nations that had indicated they would "reduce tariffs and non-tariff barriers."

Argentina finds itself in a privileged position, thanks to the strong rapport between Milei and Trump.

Milei officials say that the two nations are initially looking at a basket of between 10 and 50 goods that would be excluded from tariffs, potentially the first step in a move towards a wider free-trade deal.

In the US Treasury statement, Washington heaped praise on Milei and his government.

“Under President Milei, Argentina has conducted policy through actions, not just words. As highlighted by President Donald J. Trump, President Milei has brought Argentina back from economic oblivion,” read the statement.

“During his meetings in Argentina, Secretary Bessent will reiterate the United States’ firm backing for the continued implementation of President Milei’s robust economic agenda and encourage the international community to fully support President Milei’s economic reform efforts,” it added.

He also aims to further strengthen the relationship between the two countries, which is “stronger than ever,” it continued.

“Thanks to the bold leadership of President Javier Milei, the relationship between the United States and Argentina is stronger than ever. I look forward to our positive discussions about Argentina’s economy, and to exploring the ways our nations can further deepen our vital economic relationship,” said Bessent in the statement.

Last week, at a gala in Florida, Milei expressed his intention to work closely with the United States and announced plans to amend legislation to meet the requirements outlined by Trump’s new tariffs.

“We have already met nine of the 16 necessary requirements , and I have instructed my country's Foreign Ministry and Commerce Secretariat to move forward with the remaining requirements,” he specified at the time. 

Milei claimed to have given instructions to comply with the remaining ones and “resolve the asymmetry with the United States in the short term.”

– TIMES/AFP/NA