Overview
- Argentina’s central bank said it signed a $20 billion currency swap with the United States to support economic stability.
- Treasury Secretary Scott Bessent is courting private banks and sovereign funds for an additional $20 billion facility to complement the swap.
- Trump said the U.S. could buy “some” Argentine beef to push down prices, prompting sharp objections from cattle groups and several lawmakers.
- Market analysts said Argentine volumes are too small to materially cut U.S. beef prices, and feeder cattle futures dipped after Trump’s remarks before stabilizing.
- Critics framed the aid and proposed beef buys as support for President Javier Milei ahead of the Oct. 26 midterms, while USDA said it aims to lower prices and support ranchers.