WASHINGTON, D.C. — U.S. Congressman Josh Gottheimer (NJ-5) this week sent a letter to Treasury Secretary Scott Bessent, seeking clarification on the Trump Administration’s reported decision to provide the Central Bank of Argentina with a $20 billion bailout.
In his letter, Gottheimer called the move “a massive failure for the American people,” expressing concern about potential impacts on U.S. taxpayers and domestic industries.
“Instead of helping to put money back in the pockets of our constituents, this Administration decided to bailout a foreign nation with U.S. taxpayer money with no clear indication as to when or how those dollars will eventually be paid back,” Gottheimer wrote. “You owe it to the American people to provide a full fledged explanation of the terms of this agreement.”
Gottheimer said the decision could affect American farmers and ranchers, citing market disruptions stemming from tariffs imposed by the administration. He noted that China, a major importer of U.S. soybeans, has reportedly halted purchases in response to the tariffs.
According to Gottheimer, China imported no soybeans from the U.S. last month — the first time since November 2018 — and instead bought soybeans from Argentina, the nation now receiving U.S. financial support. He also pointed to reports that the administration is considering purchasing Argentine beef to help lower domestic prices, while U.S. producers face economic challenges.
