In the midst of the government shutdown, President Trump bailed out Argentina’s failing economy with a $20 billion lifeline. Double that might be coming Argentina’s way, as United States Secretary of the Treasury Scott Bessent said the Trump administration is trying to secure an additional $20 billion for Argentina through private banks and sovereign wealth funds. The Trump administration’s bailout is not a defense of democracy or an effort to maintain global stability, but a blatant attempt to prop up an ally. It is coming at the expense of democratic values, both in Argentina and the United States.
The reason Argentina needed a bailout in the first place was due to government overspending. Typically, bailouts come from the International Monetary Fund (IMF), but this was not Argentina’s first; it has received more IMF bailouts than any other country. Argentina’s president, Javier Milei, has been trying to dig the country out of crisis with an austerity program to decrease government spending and promote free markets and currency reforms. Thus far, Milei’s policies seem good for Argentina in the long run. Annual inflation in Argentina went from almost 300% in April 2024 to 36% in July 2025.
Milei is often compared to Trump due to his blunt personality and political showmanship. Remember Elon Musk’s famous waving of a chainsaw to cut through government bureaucracy? Milei gifted the cutting machine to Musk, complete with the engraving “Viva la libertad, carajo.” That is Spanish for “Long live liberty, damn it.” Trump has taken quite a liking to his political emulator, and their alliance was the key to this $20 billion. Since 2016, Trump has boasted his “America First” ideology, wrapped in his slogan “Make America Great Again.” Putting America first has served as the justification for slashing foreign aid, U.S. aid cuts and the termination of direct funding for Ukraine. On Jan. 20, 2025, the Trump administration wrote that the foreign aid industry and bureaucracy were “not aligned with American interests and in many cases antithetical to American values.”
Despite his opposition to foreign aid, Trump decided to bail out Argentina while his trade wars have been hurting U.S. farmers. The trade war between the U.S. and China has led China to stop purchasing soybeans from the U.S. altogether. Formerly the largest buyer of American soybeans, China now purchases soybeans from Brazil and Argentina, two competing producers. Thousands of American soybean farmers have been left without a market due to Trump’s trade war. Now, Trump is bailing out his political ally, but he is also working against U.S. soybean farmers. American farmers sure aren’t being put first, which goes to show how hollow Trump’s “America First” promise really is. For Trump, it is friends first.
Yes, the U.S. has offered financial aid to foreign countries before, typically when an important trade partner is facing an economic crisis that could lead to global consequences or impact trade with the U.S. That being said, Argentina is not a major trading partner, and its affairs have little to no domestic impact. Trump seems to be trying to prop up his political crony, out of an interest of keeping him in power and in office.
Trump made economic support conditional, saying that the U.S. would not “waste [its] time” by helping Argentina if Milei is not re-elected. The presidential election in Argentina is in 2027. Trump made help from the U.S. conditional: “If he loses, we are not going to be generous with Argentina.” That’s a threat to sway Argentina’s electoral process.
Trump’s devaluing of democracy is spilling over U.S. borders. From attempting to overturn the 2020 election and pardoning the January 6th defendants to targeting law firms and universities with differing viewpoints, Trump has shown little regard for free and fair elections and constitutionally protected speech that doesn’t comport with his worldview. Trump now looks to export his anti-democracy movement to Argentina, where, if its citizens want U.S. dollars, they have to cast their ballots for Milei and his slate of candidates.
The U.S. has had a long history of intervening in the democratic processes of Latin American countries. From CIA-orchestrated coups supporting the overthrow of a democratically elected leaders to Trump supporting Venezuelan opposition leader Juan Guaidó’s claim to be president, the U.S. does not have a good track record. Trump is neither putting America first nor putting democracy first both at home and abroad.
Making either the U.S. or Argentina “great again” could be a noble pursuit. That should include raising taxes for the common good, financially prudent government spending, the freedom to respectfully disagree and elections free from outside interference. Greatness seems far off. Let’s get back to the basics.
