Milei, the popular anti-socialist President of Argentina, has long been an ally of President Trump and his MAGA agenda.

It can be recalled that Milei made headlines and secured his legacy as the "Argentine Trump" when he appeared at CPAC 2025 near Washington, DC, and presented former DOGE chief Elon Musk with a chainsaw amid the Tesla CEO's quest to slash waste, fraud, and abuse of taxpayer funds.

Today's meeting follows Trump's approval of a $20 billion investment and currency exchange between the US and Argentenia, aimed at preventing market instability and helping the Argentinian economy.

Per the New York Times:

The face-to-face meeting between the political allies comes after the Trump administration agreed to provide Argentina a $20 billion lifeline that would come in the form of a currency swap with the nation's central bank, according to Treasury Secretary Scott Bessent. The details of the bailout remain unclear, but it could provide a political boost for Mr. Milei, who is hoping to stave off a financial crisis and a political disaster for his party.

Last month, the self-proclaimed radical libertarian's party was hit by a stunning loss in a key provincial election. Mr. Milei's party faces another crucial midterm election later this month.

In Mr. Milei, Mr. Trump has found a political kindred spirit of sorts. He has described the Argentine leader as his "favorite president," and Mr. Milei was one of only two world leaders onstage at Mr. Trump's inauguration.

But Mr. Trump's bailout of Argentina could come with political blowback. Democrats have seized on the bailout to accuse Mr. Trump of helping out a foreign government and wealthy investors while the U.S. government remains shut down.

Major hedge funds, including those led by friends of Mr. Bessent, could benefit financially from the administration's lifeline for Argentina. Funds at various investment firms, including BlackRock, Fidelity and Pimco, are heavily invested in Argentina, as are investors who worked with Mr. Bessent when he was an investor for George Soros.