Argentine President Javier Milei met with US President Donald Trump at the White House on October 14 to strengthen bilateral ties, securing a crucial endorsement ahead of Argentina's upcoming midterm legislative elections.

The meeting followed the US activation of a $20bn currency swap with Argentina, triggering a massive rally in Argentine stocks and bonds. The libertarian leader arrived in Washington at 1:00 a.m. local time amid heightened security, staying at the official Blair House residence across from the White House, which is reserved for close allies to the president, Infobae noted.

Trump publicly backed Milei's electoral prospects during their meeting. "Your career has been an amazing one, and it's going to continue with the election. You're going to win the election. We're going to endorse you. I'm going to endorse you today. Fully endorse you," Trump told Milei in front of reporters.

However, he attached a critical condition to his support. "If a socialist wins, you feel a lot differently about making an investment," Trump stated.

"We're not going to let somebody get into office and squander the taxpayer money from this country. I'm not gonna let it happen," he said. "If [Milei] loses, we are not going to be generous with Argentina."

Argentines will go to the polls on October 26 to elect half of the seats in the Chamber of Deputies and a third of the seats in the Senate, where Milei currently lacks the support needed to advance his reform agenda.

Despite suggestions that assistance is tied to electoral results, Trump insisted the Treasury swap agreement was about helping "our neighbours." US Treasury Secretary Scott Bessent, who recently described Argentina as a "systemic ally" of the US, expressed confidence that Milei's right-wing coalition would "do quite well and continue his reform agenda."

This unprecedented US intervention in Argentine finances underscores the strategic importance both leaders place on their ideological alliance. While the $20bn swap provides critical financial support for Argentina's 2026 debt obligations, Trump's explicit electoral endorsement and conditional aid threats represent a remarkable departure from traditional diplomatic norms, potentially influencing voter sentiment as the midterm elections fast approach.