When President Javier Milei of Argentina faced an economic meltdown, President Trump vowed to come to his aid. But that lifeline is coming at a cost.

WASHINGTON (Reuters) -U.S. support for Argentina hinges on the ruling party of President Javier Milei succeeding in this month's midterm legislative elections, President Donald Trump said on Tuesday, saying "we're not going to waste our time" if Milei's party does not win.

A journalist asks Trump whether continuing US financial support to Argentina relies on the results of the country's upcoming midterm elections. Turmp responds that the US won't be around very long if the opposition wins. He then passes the question to Treasury Secretary Scott Bessent.

WASHINGTON (AP) — President Donald Trump on Tuesday threatened to pull assistance for Argentina — led by a political kindred spirit whose philosophy is similar to that of the Republican administration — if the nation’s internal politics don’t align with his interests in upcoming elections.

It is in no one’s interest that Argentina fails. Buenos Aires is by far the IMF’s biggest single client after successive failed bailouts. Private bondholders are owed around $60bn. The Argentine people have suffered decades of economic chaos. The opposition Peronists offer no good alternatives.

Welcoming Argentina's libertarian leader Javier Milei to the White House, Trump warned that the US would not "waste our time" with helping Argentina if Milei's party did not prevail. Milei praised Trump for his peacemaking efforts and said the US president's policies would lead to "prosperity".

President Donald Trump doubled down on his plan to carry out a $20 billion currency swap with Argentina during a bilateral lunch with the South American leader.