Overview

• The Chinese Embassy in Buenos Aires issued a formal statement condemning Treasury Secretary Scott Bessent’s remarks as provocative and rooted in a Cold War mentality.
• Beijing accused Washington of hegemonism and bullying and warned that Latin America and the Caribbean is not any country’s backyard or a sphere to disrupt regional cooperation with China.
• Bessent had defended U.S. financial backing for Argentina — including a reported $20 billion currency swap and purchases of pesos — while saying President Javier Milei is committed to removing China’s presence.
• Argentina’s chief of cabinet, Guillermo Francos, said the U.S. agreement does not require excluding China, signaling an effort by Buenos Aires to de‑escalate tensions.
• The exchange unfolds as the United States announces new tariffs on Chinese goods, with Milei expected to visit the Oval Office next week.