Scott Bessent met with Milei at Casa Rosada and praised his program of measures.

The visit of Scott Bessent, Secretary of the Treasury of the United States, marked a turning point in the bilateral relationship with Argentina. In direct representation of President Donald Trump, Bessent arrived in the country this Monday and held high-level meetings with the Minister of Economy, Luis Caputo, and President Javier Milei. The result: a joint statement that consolidates the political and economic support of the U.S. for the ambitious reform program driven by the new Argentine libertarian order.

In an emphatic tone, Bessent did not spare praise for Milei's administration: "President Milei inherited an economy that was too slow, a bureaucracy that was too large, and an inflation level rarely seen in this country. President Trump, the same," he highlighted.

The ideological alignment was evident. Bessent not only defended fiscal adjustment and the reduction of the state but also endorsed the path chosen by Milei by directly comparing it to the American transformation process under the slogan "Make America Great Again." "Milei and Trump share the same course," the official stated.

One of the most relevant announcements was the explicit support of the U.S. for the International Monetary Fund program, which, according to Bessent, will be "a financial respite amid the adjustment." This signal is significant: it prepares the ground for a "massive surge of foreign direct investment" with American capital interested in entering the country.

Indeed, after the elimination of the currency exchange restriction and the implementation of the new floating band scheme for the dollar (between $1000 and $14000), the market reaction was one of positive expectation. The Argentine government is moving toward a competitive exchange rate without distortions, and with international support.

"Liberation Day"

True to his style, President Javier Milei did not miss the opportunity to imbue the day with symbolism. "Today is Liberation Day," he asserted vehemently, alluding to the same term Trump used in his crusade against Chinese protectionism. "Today we have forever rid ourselves of that yoke to which we were chained, to return to a path of sustainable growth."

Milei emphasized that the alliance with the U.S. goes beyond commerce. Argentina positions itself as a "firm ally" in the region, with a clear geopolitical stance against the advance of socialism. "Our region is besieged by the virus of socialism. The roots of the seeds planted in this new relationship must be strong enough to expand throughout the region."

The American official was accompanied by a high-level delegation, which included Chargé d'Affaires Lydia Barraza, Deputy Secretary of the Treasury Michael Kaplan, and Chief of Staff of the Treasury Dan Katz. In the meeting, besides Caputo, José Luis Daza (Deputy Minister of Economy), Pablo Quirno (Secretary of Finance), and Santiago Bausili (President of the BCRA) participated.

While Bessent ruled out, for the moment, direct financing from the U.S. Treasury, he did not close the door to future negotiations. Argentina still keeps a swap with China for USD 18 billion, and the libertarian government is working on a proposal to secure a similar swap with Washington for USD 10 billion.

Additionally, a bilateral free trade agenda was advanced. The Argentine economic team has already presented a list of 10 products that could be exempt from U.S. tariffs. On this point, Bessent was clear: "Give your best. We'll see what you do and go from there."