This past weekend saw good news for Argentinian President Javier Milei when his conservative La Libertad Avanza party scored a decisive midterm election victory.

The outcome also provided a huge win for President Donald Trump, who had earlier moved to bailout the South American nation. 

Trump says Milei is "making us all look good"

According to Politico, the president was quick to recognize his Argentinian counterpart's success in a post to Truth Social on Sunday evening.

"Congratulations to President Javier Milei on his Landslide Victory in Argentina. He is doing a wonderful job! Our confidence in him was justified by the People of Argentina," Trump wrote.

He later reiterated that message in a subsequent post, stating, "BIG WIN in Argentina for Javier Milei, a wonderful Trump Endorsed Candidate! He’s making us all look good. Congratulations Javier!"

Politico noted how for his part, Milei welcomed the election results as he addressed a crowd of supporters, saying, "Argentines showed that they don’t want to return to the model of failure."

Bailout said to be connected with access rare earth mineral access

USA Today reported earlier this month that Trump authorized a $20 billion bailout as part of an effort to stabilize Argentina's currency.

It came in the form of a currency swap with Argentina's central bank which saw the financial institution exchange its volatile pesos for American dollars.

Why is Trump bailing out Argentina? What we know after White House visit with 'El Loco' https://t.co/YDjSwgPY3Z

— USA TODAY (@USATODAY) October 16, 2025

USA Today cited speculation that the move was done to ensure American companies have greater access to Argentina's deposits of uranium and rare earth mineral deposits.

China is currently the world's leader in rare earth mineral production, which are essential for the production of both civilian and military electronics.

Trump administration feared "another failed" Latin American state

What's more, has pledged Milei to get "China out of Argentina" whereas Trump has expressed concern over the prospect of China's military bases being built on Argentinian soil.

Meanwhile, analyst James Kirchick argued in an op-ed piece published by Politico last week that Trump's bailout was needed to secure Milei's free market reforms.

Kirchick cited a quote from Treasury Secretary Scott Bessent, who said, "We do not want another failed or China-led state in Latin America."

The analyst argued that if Argentina's economy collapses, then it is all but sure to result in the election of Peronists, who advocate for a "uniquely Argentine blend of populism, nationalism and socialism."