The United States is making its $40 billion financial rescue package to Argentina dependent on reducing China’s influence across numerous sectors, as well as giving the U.S. special access to key minerals. A report in the Wall Street Journal detailed extensive behind-the-scenes lobbying from U.S. officials, giving a glimpse of how Argentina has become ground zero in a larger U.S. drive to lessen China’s influence in Latin America.
The U.S. Treasury confirmed a $20 billion currency swap deal with Argentina this week. Earlier this month U.S. Treasury Secretary Scott Bessent said he is looking for ways to add another $20 billion “adjacent” to the original $20 billion swap deal, saying this money would come from the private sector.
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