President Trump recently announced a $20 billion deal to rescue Argentina and President Javier Milei, angering U.S. farmers and putting American taxpayers at risk. On Wednesday, Treasury Secretary Scott Bessent announced that the Trump Administration was also assembling an additional $20 billion aid in a private finance facility that could act as a backstop for Argentina’s debt.
WSJ explains how the Trump administration is able to rescue Argentina and why it is propping up an ideological ally.
Chapters:
0:00 Trump’s bailout
0:24 Who is President Milei?
1:31 Milei’s spending cuts and the peso
3:32 Trump’s aid
4:53 What’s at stake?
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