Argentina says trade deal with the US practically finalized

Argentina’s Ambassador to the United States, Alec Oxenford, said on Monday that a trade agreement between the two countries “is practically finalized” and that the announcement is imminent. According to the diplomat, negotiations between Presidents Javier Milei and Donald Trump have the backing of the US Treasury. “There will be news very soon,” he said. However, he offered no details, claiming he was bound to a confidentiality agreement. He added that the deal would have a “positive impact for a long time” on the relationship between the two countries.  “Now it’s a matter of finding the right moment for the parties to tie up the loose ends and make the announcement”, Oxenford said in an interview with Radio Mitre. “The truth is that with these kinds of high-impact issues, sometimes you have to wait for the right moment,” he added. In April, Milei, after a meeting with United States Treasury Secretary Scott Bessent,  announced that Argentina was “ready to sign a trade agreement” with the U.S. Trump himself said his administration would consider signing such an agreement. In October, as part of a US bailout to Argentina, the Central Bank and the US Treasury announced a US$20 billion currency swap. However, none of the administrations confirmed whether it has been activated. A strong relationship (with some hiccups) The relation between the two countries has strengthened, due to an ideological affinity between Milei and Trump, although some analysts view it as Argentina subjecting itself to a “neocolonial order”. In a press conference held on Monday, the United States deputy secretary of state, Christopher Landau, said that he met with Milei in Bolivia, where they both attended President Rodrigo Paz Pereira’s inauguration. “Obviously, Argentina is a country that has historically been a major leader in the region,” he said. “We’ve seen that over the last few decades, but we see President Milei as a hemispheric rock star.” This doesn’t mean that there haven’t been some setbacks. Last month, the United States government said that the country would import more beef from Argentina. However, the Agriculture Secretary, Brooke Rollings, downplayed the possibility, saying the purchases would “not be much” due to a “foot and mouth disease issue” allegedly affecting Argentine beef.  In September, the Argentine government decided to cut down on vaccination against foot and mouth disease in calves and partially in adult animals starting in 2026, saving farmers US$25 million.