In Buenos Aires, Argentina, reactions from global leaders to President Donald Trump's announcement of sweeping tariffs on U.S. imports drew varied responses. While Europe and China considered retaliatory measures, and Mexico sought to mitigate the impacts of the tariffs, Argentine President Javier Milei expressed unrestrained enthusiasm. Flying to Palm Beach to attend Trump’s Mar-a-Lago club for a gala celebrating his libertarian policies, Milei aimed to solidify his alliance with Trump.
At the gala, President Milei passionately proclaimed, "Make Argentina Great Again!" This marked another encounter between the two leaders since Milei’s election victory in November 2024. As Milei implements drastic austerity measures in an effort to stabilize Argentina's faltering economy, he positions himself as a key ally in Trump’s crusade against what he terms the "woke" left.
Analysts remain skeptical about the tangible benefits of this alliance for Argentina. Marcelo J. García, a director at a geopolitical risk consultancy, emphasized the need for Milei to convert his political relationship with Trump into economic advantages for the country, something he has yet to achieve. Earlier this year, Milei took significant steps aligning with U.S. policy; he withdrew Argentina from the World Health Organization and threatened to exit the Paris climate accord after Trump’s decisions.
His administration has also outlawed gender change treatments for minors and promoted a cryptocurrency token reminiscent of Trump's own meme currency. During his international speaking engagements, which have included events like the Conservative Political Action Conference, Milei has emerged as a prominent MAGA supporter, even gifting tech mogul Elon Musk a giant chainsaw as a symbolic gesture.
Despite widespread criticism of Trump’s tariffs in various circles, Milei defended the endeavors of the U.S. president, characterizing the tariffs as "preferential treatment" for Argentina compared to other nations. Following the announcement, Argentina was assigned a 10% minimum tariff, a fact the country's media framed as a lesser burden than other countries would face.
In the days following the gala, Argentine Foreign Minister Gerardo Werthein claimed productive discussions in Washington, where officials expressed optimism about negotiating a free-trade agreement with the U.S. Milei echoed these sentiments during his speech at Mar-a-Lago, but the foremost goal for his administration is securing a $20 billion bailout from the International Monetary Fund (IMF). This financial support is deemed crucial for sustaining Milei's economic reforms amidst Argentina's extensive foreign debt.
Milei, utilizing executive powers, has attempted to fast-track negotiations for an IMF program, circumventing legislative approval. However, discussions are still ongoing regarding the up-front funds Argentina can access, which is vital given the country's strained foreign currency reserves. As Milei traveled to the U.S. in September 2024, speculation arose about an informal meeting with Trump, who had been instrumental in aiding Argentina during a 2018 financial crisis.
Expectations ran high for a photo opportunity with Trump; however, upon returning to Argentina, Milei's office remained tight-lipped regarding the outcome of any potential meeting. Major Argentine media outlets suggested that the anticipated rendezvous did not occur, eliciting criticism from political opponents, including former President Cristina Fernández de Kirchner, who questioned the utility of Milei's U.S. trip.
