By Katie Hettinga
The administration’s startling plan to bail out Argentina to the tune of $20 billion is the latest example of Trump trade decisions that conflict with his stated “America First” goals. Trump’s latest counterintuitive international commercial policy move is to extend a credit swap line to Argentina, a country led by another right-wing Trump ally, Javier Milei. There is no upside for Americans from this bailout. In fact, the day after it was announced, Argentina dropped its export taxes so as to strike a deal to sell its soybeans to China — a move that worsens the situation for struggling U.S. farmers who have been locked out of China’s market after China retaliated over new tariffs on goods sent to the United States.
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Originally published in The Economic Populist — a project of the American Economic Liberties Project.