The $20 billion pledge contradicts Trump’s policy, sparking backlash from farmers and Republicans over lost competitiveness
The Donald Trump administration in the U.S. has sparked growing discontent among its core supporters after pledging $20 billion (approximately 28 trillion Korean won) in support for Argentina amid its foreign exchange crisis. Critics argue that President Trump’s “America First,” “America First” pledge is not being upheld.
The U.S. decision to support Argentina is attributed to the close relationship between President Trump and Argentine President Javier Milei, dubbed “South America’s Trump.” President Milei, a right-wing leader and virtually the only pro-Trump figure among major Latin American leaders, has faced political instability after suffering a major defeat in local elections on the 7th amid an economic crisis. This support is seen as Trump’s effort to bolster Milei’s position.
Analysts also suggest the move aligns with Trump’s strategy to push Latin America toward conservatism. Nate Shenkman, an international relations expert, told CNN that the Trump administration’s support for Milei mirrors its backing for Hungary’s Viktor Orban or Brazil’s Jair Bolsonaro. He explained, “The Trump administration wants conservative figures in power. They think, ‘These are our people. Let’s use our resources to support them.'”
The issue has fueled anger within Trump’s core base. Farmers, a key Republican constituency, are particularly incensed. The Washington Post (WP) reported on the 28th that while Trump’s tariff war has blocked U.S. soybean exports to China, Argentina — now exporting soybeans to China in place of the U.S. — is receiving financial support from Trump. Caleb Ragland, who operates a 4,500-acre farm in LaRue County, Kentucky, criticized, “We’ve lost competitiveness in the Chinese market due to government policies. Yet our government is providing financial support to Argentina, enhancing their price competitiveness and helping them sell products in markets we can’t access.” Republican Senator Chuck Grassley of Iowa added, “Farmers were outraged that Argentina sold soybeans to China immediately after U.S. bailouts.”
Moreover, the Argentina support contradicts Trump’s “America First” principle. During last year’s election campaign, Trump strongly criticized using taxpayer money to aid other nations. Since taking office in January, he has slashed U.S. foreign aid programs, reduced military support for Ukraine, and demanded increased defense cost-sharing from allies like South Korea and Japan.
The WP assessed, “Trump’s decision to provide $20 billion in financial support to Argentina has angered even his loyal supporters, exposing the limits of his ‘America First’ economic policy. By trying to resolve allies’ problems, he is creating new headaches for himself.”
Politico also reported, “The $20 billion financial support plan faces fierce backlash from both Democrats and Republicans, as well as farmer groups. They warn it will harm U.S. farmers and prop up a failing foreign economy with American taxpayers’ money.”
