Milei rails against Argentine business leaders in New York

President Javier Milei once again railed Argentine business leaders on Tuesday, calling Paolo Rocca and Javier Madanes Quintanilla, two of the country’s leading industrialists, “crony businessmen.”  Milei delivered his words to investors in the opening of Argentina Week 2026, an economic forum in New York looking to promote investment opportunities in the country.  Although the president insisted that his government was not against “doing business,” he immediately targeted part of the Argentine business community, accusing them of having sustained for years a system of privileges linked to political power. “Rocca and Madanes, in collusion with corrupt politicians, once again turned against the Argentine people.” Paolo Rocca leads Techint, the largest producer of steel pipe for the oil industry. The company made headlines when it recently lost out on a pipeline construction contract to Indian company Welspun Group. Javier Madanes Quintanilla owns aluminium giant Aluar and tire manufacturer Fate, that shut down two weeks ago.  Despite the criticism, Milei insisted that his government seeks to create a favorable environment for business activity based on what he called “competition and the elimination of privileges.”   He then explained his view that the process of deregulation and economic liberalization will generate benefits, claiming that “jobs lost in one sector will be replaced in other sectors with better salaries.” Milei went on to say that policies are aligned with “economic efficiency” and that decisions are based on what is “fair.” Milei’s industry bashing This is not the first time Milei has gone after key figure in the Argentine business sector. In his March 1 speech to kick off the legislative year in Congress, Milei criticized them without singling anyonout.  “Does anyone really want to continue with an impoverishing model where only corrupt politicians and businesspeople who are friends of the powerful win, at the expense of the well-meaning Argentines?” he said. According to a recent report by consultancy Audemus based on United Nations data, over the last two years, Argentina has recorded the world’s second-worst industrial decline. Between 2023 and 2025 Argentina’s manufacturing sector fell by 7.9%, surpassed only by Hungary. Milei has also been vocal about the effects the drop in industry jobs will cause.  In an interview on Sunday with news outlet LN+, he acknowledged that the economic reforms his government is carrying out will inevitably cause certain economic sectors to “disappear.” “If you are shocking the economy with structural reforms all the time, you cannot expect certain sectors not to disappear,” he said. The president added that sectors that “do not adapt will do badly.” A message for investors Milei’s participation in Argentina Week 2026 is part of the government’s agenda of attracting international investments for the country. The goal is to showcase sectors the government considers strategic, including energy, mining, infrastructure and technology.   While in New York, the president held meetings with key figures in the financial sector, including JPMorgan Chase CEO Jamie Dimon. The delegation includes Economy Minister Luis Caputo; Deputy Foreign Minister Pablo Quirno; Presidential Spokesperson Manuel Adorni; and Minister of Deregulation Federico Sturzenegger. The event also brings together a large Argentine political delegation. Ten provincial governors are participating: Raúl Jalil (Catamarca), Alfredo Cornejo (Mendoza), Gustavo Sáenz (Salta), Ignacio Torres (Chubut), Rolando Figueroa (Neuquén), Alberto Weretilneck (Río Negro), Claudio Vidal (Santa Cruz), Marcelo Orrego (San Juan), Carlos Sadir (Jujuy), and Juan Pablo Valdés (Corrientes). Milei is currently on a six-day international trip to the United States and Chile. A little after noon on Tuesday, he left the U.S. on route to Santiago de Chile, where he will attend the inauguration of president-elect José Antonio Kast in Valparaíso on Wednesday.