Argentina’s President Javier Milei is claiming a major victory Monday morning. He won key districts in midterm elections and secured what he calls a mandate to keep remaking his country’s economy.
Milei says his La Libertad Avanza party won 14 seats in the Senate and 64 in the lower House. The votes are enough to uphold presidential vetoes and block any impeachment attempts.
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The victory gives him room to press ahead with his plan to slash state spending and deregulate the economy. The moves are agenda items that have deeply divided Argentina but impressed investors.
“Today we have passed the turning point. Today we begin the construction of a great Argentina,” Milei said of his victory.
Washington’s interest
With the win, the Trump administration is expected to follow through on a $40 billion financial lifeline. It’s a deal that was contingent on Milei staying in power.
The move is aimed at stabilizing Argentina’s economy amid high inflation and widespread poverty.
Early Monday, Trump took to Truth Social to congratulate Milei. He posted saying, “BIG WIN in Argentina for Javier Milei, a wonderful Trump Endorsed Candidate! He’s making us all look good. Congratulations Javier!”
The $40 billion investment, however, has drawn concerns. One Midwest farmer told ABC News that America sending billions to Argentina seems counterintuitive to Trump’s America First ideology.
Due to an ongoing trade dispute between the U.S. and China, China is currently buying its soybeans from Argentina rather than the U.S.
That fact caused Sen. Chuck Grassley, R-Iowa, to question the investment. He wrote on X, “Why would the USA help bail out Argentina while they take the American soybean producers’ biggest market?”
