Scott Bessent’s visit to Buenos Aires signals Washington’s endorsement of Javier Milei’s harsh economic agenda—celebrated as a “miracle” by U.S. officials but marked by austerity, privatization, and growing social inequality

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 A troubling embrace of neoliberalism in Argentina

On April 14, 2025, Scott Bessent, U.S. Treasury Secretary and close ally of the Trump administration, arrived in Buenos Aires to meet with Argentina’s far-right president, Javier Milei.

Far from a benign diplomatic gesture, this visit underscores the deepening influence of U.S. imperial interests in Latin America, as they rally behind a government that aggressively dismantles social protections and public institutions under the guise of economic “miracles.”

Unpacking the so-called “economic miracle”.Celebrating austerity and privatization as progress

Bessent hailed Milei’s policies as a historic turnaround, praising the president for slashing public spending, shrinking the state, and opening the door to foreign investment. Yet, this “miracle” comes at a steep cost: rising poverty, precarious labor conditions, and the erosion of public services that millions of Argentines depend on daily.

The IMF deal: a straitjacket for sovereignty

The recent agreement with the International Monetary Fund, lauded by Bessent, is less a solution than a new form of economic bondage. It demands harsh fiscal discipline and structural reforms that prioritize creditor interests over the needs of the Argentine people, deepening dependency on global financial institutions.

Tariff talks: opening markets at the expense of local industry

The announcement of negotiations to reduce or eliminate tariffs imposed during the Trump era signals further liberalization of trade—often a euphemism for exposing domestic industries to the ruthless competition of global capital. This threatens Argentina’s fragile manufacturing sector and the livelihoods of countless workers.

The presence of Trump loyalists and conservative operatives

Bessent’s entourage, including figures like Matt Schlapp and Soledad Cedro, represents the ideological machinery pushing a right-wing agenda across the hemisphere. Their involvement highlights the political nature of this visit: not just economic cooperation, but the export of a neoliberal, anti-popular model.

Geopolitical chessboard: countering China, deepening U.S. control

This visit also reflects Washington’s strategic aim to counter China’s growing influence in Latin America. By tightening ties with Argentina’s new government, the U.S. seeks to reassert dominance in the region, often at the expense of local autonomy and development priorities.

Social costs and resistance ahead

While the Milei administration and its U.S. backers celebrate market openings and investment flows, the reality on the ground is stark: widening inequality, social unrest, and a population increasingly skeptical of policies that favor elites and foreign capital over social justice and economic sovereignty.

Scott Bessent’s visit is a clear signal that the U.S. is doubling down on neoliberalism in Argentina, endorsing a government whose “economic miracle” masks a profound social crisis. For those committed to a just and equitable Latin America, the challenge is to resist this model and fight for an economy that serves the many, not the few.

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