Milei says Argentina, US in talks over trade deal

Argentina's government is in talks with the United States over a potential agreement that would grant the South American country trade advantages, President Javier Milei said on Wednesday.

"There is an issue of trade advantages that the United States would be giving us; the U.S. has strongly favored Argentina," Milei said in a television interview.

The U.S. again purchased Argentine pesos in the open market, Treasury Secretary Scott Bessent told reporters earlier on Wednesday, adding that the department was working with banks and investment funds to create a $20 billion facility to invest in the South American country's sovereign debt.

Milei also said he would consider cabinet changes after October's midterm elections in Argentina.

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The country is set to hold midterm elections on Oct. 26, a crucial test for Milei as he enters the second half of his term amid falling approval ratings and stalled legislation in an opposition-controlled Congress.

U.S. President Donald Trump said on Tuesday that the United States would not "waste our time" with Argentina if Milei's party loses the parliamentary elections.

However, Milei said Trump had expressed support for the current government, which will remain in power until at least 2027.