U.S. Treasury Secretary Scott Bessent visited Buenos Aires on Monday to express full support for President Javier Milei’s sweeping economic reforms, calling them a turning point in Argentina’s comeback from financial collapse.
“I wanted to come here today to show support for President Milei and his commitment … to what I think is historic in terms of bringing Argentina back from the precipice,” Bessent said in an interview with Bloomberg TV after their meeting.
The visit followed a flurry of economic activity in Argentina, including a $20 billion deal with the International Monetary Fund, a $12 billion package from the World Bank and $10 billion in loans from the Inter-American Development Bank — all within days of the Milei government loosening strict currency controls.
Bessent also praised Argentina’s efforts to lower trade barriers and said the Trump administration was prioritising stronger ties with Latin America, warning against dependence on Chinese lending.
He accused Beijing of structuring predatory deals across Africa and Latin America under the guise of aid, offering loans in exchange for critical mineral rights and leaving countries saddled with unsustainable debt.
“They're guaranteeing that future generations are going to be poor and without resources,” Bessent said. “We don't want that to happen any more than already has in Latin America.”
While Beijing has extended billions in credit to Argentina in recent years, Bessent said the U.S. would not match that with direct loans. He acknowledged, however, that China had shown “very good faith” by allowing the roll-forward of $5 billion previously used by Argentina.
He added that if the current government sticks to its reforms, the country should have enough reserves to repay that sum in time.
Argentina is one of several Latin American countries receiving high-level U.S. attention this year. President Donald Trump met Salvadoran leader Nayib Bukele at the White House on Monday and hosted Ecuador’s President Daniel Noboa in Florida last month.
Bessent did not confirm whether Argentina might earn zero-tariff access under Trump’s new reciprocal tariff regime, but said the door remained open — if Buenos Aires “brings its A-game” to negotiations.
Trade talks, he added, go beyond tariff cuts. “It’s a whole box of things — non-tariff barriers, currency manipulation, subsidised labour,” he said. “We’re not just talking about numbers. We’re talking about fairness.”
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A U.S. submarine strike sank an Iranian warship off the coast of Sri Lanka, leaving at least 80 dead, the country’s deputy foreign minister said. Meanwhile, Iran postponed the funeral of its late Supreme Leader Ali Khamenei, according to state media.
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U.S. Defense Secretary Pete Hegseth says the United States is making gains in its conflict with Iran after a key Iranian naval target was destroyed, confirming that the strike was carried out by a U.S. submarine off the coast of Sri Lanka. Rescue efforts are now under way for the ship’s crew.
The U.S. Department of Defense has released a video of a submarine strike on an Iranian warship off the southern Sri Lankan coast. At least 80 people died in the U.S. attack on the vessel, Sri Lanka's Deputy Foreign Minister said.
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A torpedo from a U.S. submarine sunk an Iranian warship off the coast of Sri Lanka, U.S. Secretary of Defense, Pete Hegseth told reporters as the Iranian conflcit entered its fifth day on Wednesday.
The U.S. embassy in Riyadh was hit by two drones resulting in a limited fire and some material damage, the kingdom's defence ministry said in a post on X on Tuesday, citing an initial assessment.
Shahid Motahari Sub-Speciality Hospital in northern Tehran and parts of the Golestan Palace were bombed on day two of the U.S.‑Israel strikes. AnewZ Touraj Shiralilou is in Iran's capital city and said that the facility was flattened in an airstrike.
U.S. Defense Secretary Pete Hegseth says the United States is making gains in its conflict with Iran after a key Iranian naval target was destroyed, confirming that the strike was carried out by a U.S. submarine off the coast of Sri Lanka. Rescue efforts are now under way for the ship’s crew.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 4th of February, covering the latest developments you need to know.
Strikes across the Middle East are intensifying, fuelling travel disruption, driving up global energy prices and forcing diplomatic missions to shut their doors.
U.S. President Donald Trump has said the United States has a “virtually unlimited supply” of munitions and is capable of sustaining military action indefinitely, as the conflict with Iran entered its fourth day.
The United Nations has called for an investigation into a deadly attack on a girls’ primary school in Iran, which Iranian officials say has killed more than 100 children. The U.S. has said its forces “would not” deliberately target a school.
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