Trump Ties U.S. Support to Milei’s Midterm Success as Argentina Faces Key Vote

U.S. President Donald Trump met Argentine President Javier Milei at the White House this week, warning that continued U.S. financial support depends on Milei’s performance in Argentina’s upcoming midterm elections. The meeting came shortly after Washington extended a $20 billion currency swap lifeline to Buenos Aires, aimed at stabilizing the country’s economy.

Milei, a libertarian economist, has implemented aggressive “shock therapy” reforms—slashing public spending, cutting subsidies, and tightening fiscal policy—to curb inflation and achieve a rare budget surplus. These measures have boosted investor confidence and earned praise from Trump’s administration. However, many Argentines are increasingly frustrated with the austerity measures that have led to job losses and rising living costs. “If he doesn’t win, we’re gone,” Trump told reporters.

On October 26, voters will elect half of the Chamber of Deputies (127 seats) and one-third of the Senate (24 seats). Milei’s party, La Libertad Avanza, currently holds 37 deputies and six senators, far fewer than the Peronist opposition, which remains a powerful force in both chambers. Political analysts say Milei needs at least 35% of the vote to show growing support, while 40% would signal strong momentum.

A solid result could help Milei push through his economic overhaul, including planned tax cuts and labor reforms. It would also strengthen his ability to block opposition efforts to overturn presidential vetoes—a key obstacle in recent months.

Despite progress on inflation and fiscal balance, Milei’s approval rating has dropped below 40% amid corruption allegations involving close associates. Yet analysts believe his party will expand its influence nationwide compared to 2023. The main question, they say, is how far that growth will go—and whether it will be enough to secure the U.S. backing Argentina’s fragile economy depends on.