Trump admin looking to double $20B in aid to Argentina with private funding

Watch Trump admin looking to double $20B in aid to Argentina with private funding - Straight Arrow News on Dailymotion

Transcript

00:00The Trump administration's so-called bailout of Argentina's economy is raising some eyebrows and has plenty of second-guessers this morning.

00:10The administration is providing an additional $20 billion in financing for Argentina through a mix of sovereign funds and the private sector.

00:18This comes after President Trump and Argentina's president, Javier Malay, met at the White House Tuesday,

00:25with Malay shoring up the $20 billion commitment the U.S. had already made.

00:30The United States does not want Argentina's troubled economy to collapse.

00:34In addition, Trump supports Malay's reform agenda in that country.

00:37The $20 billion help is a currency swap in which the U.S. Treasury will trade dollars for pesos in what amounts to a loan,

00:45with Argentina expected to eventually pay the money back.

00:49However, many American farmers are not happy.

00:52In a huge blow to farmers, China currently is not buying any soybeans from the U.S.

00:57as a trade battle plays out between the two countries.

01:01Instead, China has turned its attention to buying soybeans from Argentina and Brazil.

01:06One Midwest farmer told ABC News that America sending billions to Argentina seems counterintuitive to Trump's America First ideology.

01:14While Iowa Senator Chuck Grassley wrote on X,

01:17Why would the USA help bail out Argentina while they take the American soybean producers' biggest market?