A group of Senate Democrats urged the Trump administration Tuesday to drop plans to provide Argentina with financial support ahead of its legislative elections next month.
“We write with deep concern regarding your plan to send a $20 billion bailout, funded by American taxpayers, to Argentina just days after the country took steps to undermine American farmers,” wrote the 14 senators, led by the Agriculture Committee's ranking member, Amy Klobuchar of Minnesota, and Massachusetts Sen. Elizabeth Warren.
Other Ag Committee Democratic Sens. Tina Smith of Minnesota, Cory Booker of New Jersey, and Elissa Slotkin of Michigan were among the signatories.
Last week, after a meeting between President Donald Trump, Treasury Secretary Scott Bessent and Argentinian President Javier Milei, the Trump administration announced a slate of financial assistance for the country’s beleaguered economy. The package included $20 billion swap line to foster economic stability and a commitment to purchase sovereign debt.
The announcement landed the same week that Argentina announced it would temporarily lift export taxes applied to the country’s grain imports. Over the course of the two-day tax holiday, Argentinian grain producers landed some $7 billion in new orders, including around 20 shipments to China.
Around 80% of the orders were for soybeans and derivative products, according to the Rosario Board of Trade.
U.S. soybean producers condemned the move, arguing it provided Chinese buyers additional leverage in their standoff with U.S. producers. China has still not placed a single order for the new U.S. soybean crop.
“It is unclear why you are choosing to use taxpayer dollars to bolster the reelection campaign of a foreign president while they take steps to undermine U.S. farmers,” the Senate Democrats wrote to Trump.
“Instead of subsidizing a foreign country to influence a midterm election on behalf of your friend – and further undermining America’s farmers in the process – you should prioritize lowering costs for American families and strengthening the nation’s agricultural competitiveness,” the letter reads.
The Senate Democrats may find some agreement from other parts of the administration. An AP photographer caught a text message on Bessent’s phone this week raising concerns with the Argentinian assistance.
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A sender with the initials “BR” called the assistance “highly unfortunate.”
“We bailed out Argentina yesterday and in return, Argentina removed their export tariffs on grains, reducing their price to China at a time when we would normally be selling to China,” the message to Bessent read. Neither the Treasury nor Agriculture Departments would confirm whether “BR” referred to Agriculture Secretary Brooke Rollins.
In addition to taking aim at the Argentina assistance, the group of Democrats also used their correspondence to Trump to blast the president over his proposal to divert some tariff revenues to farmers.
“Farmers want fair trade and steady markets, not tariff uncertainty and short-term aid payments,” they wrote. “The best way to support American producers would be to end your chaotic tariff policies that are hamstringing farmers in the first place.”
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