The Trump administration authorized a $20 billion financial lifeline for Argentina as it faces an economic crisis. The deal has raised major questions and criticism about its merits. President Trump also said it’s contingent on Argentine President Milei’s party winning elections later this month.

The poll found almost half of Trump voters disapprove of the government's bailout of Argentina, while just 30 percent approve.

Ahead of key legislative elections in Argentina, the Trump administration offered a $20bn rescue package, known as a currency swap facility, to help stabilise the peso. This is an agreement between two central banks to exchange debt under set terms. The agreement was officially signed on October 20.

The confirmation comes after President Donald Trump teased last week that financing for the South American country would be contingent on President Javier Milei's success in his midterm elections.

Trump has now agreed to step in with a long-mooted US$20-billion plan. US Treasury Scott Bessent has also pledged another $20 billion in public and private funds to help Argentina weather market turmoil, conditional on a strong electoral showing by Milei.

The government remains shut down, but the president is trying to aid one of his allies abroad with a taxpayer-funded bailout.

The National Farmers Union similarly observed that Trump “recently bailed out Argentina with $40 billion in U.S. taxpayer-backed aid, and Argentina’s response was to strike new deals selling soybeans to China—deals that hurt American crop farmers. The last thing we need is to reward them by importing more of their beef.”

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

National Cattlemen’s Beef Association CEO Colin Woodall said Trump’s idea to buy Argentine beef “only creates chaos at a critical time of the year.”