Overview
- Twenty-one Democratic senators sent an Oct. 23 letter pressing Treasury Secretary Scott Bessent to reconsider additional aid to Argentina and to prioritize U.S. agricultural export markets.
- Posting on X on Oct. 28, Bessent touted U.S. backing for President Javier Milei as fostering a private sector solution and rebuked Senator Elizabeth Warren.
- In a prior written response, Bessent said using the Exchange Stabilization Fund provides targeted support for an ally and protects U.S. taxpayers.
- The senators cited a surge of Argentine soy shipments to China shortly after the administration announced plans for a $20 billion swap line, arguing U.S. farmers face added harm.
- The Wall Street Journal reported that JPMorgan, Bank of America, Goldman Sachs and Citigroup discussed guarantees with Treasury that could help double the assistance, prompting further political attacks including Warren’s corruption accusation.