China accuses US of bullying after Bessent's Argentina comments

Michael O'Boyle, Bloomberg News on Oct 11, 2025

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China accused the U.S. of Cold War-era intervention in Latin America after Treasury Secretary Scott Bessent suggested Argentina’s president was “committed to getting China out.”

Bessent made his comments on Fox News on Thursday as the U.S. offers a $20 billion U.S. financial lifeline to Argentina and President Javier Milei prepares to visit Donald Trump at the White House on Tuesday.

The comments “once again highlighted the Cold War-era mentality that continues to characterize some US officials, who seem driven only by a spirit of confrontation and intervention in the affairs of other sovereign nations,” China’s embassy in Buenos Aires said Saturday in a post on social media, where it accused the U.S. of recurrent “bullying” of Latin American nations.

It’s unclear exactly what the U.S. might demand in return after announcing an aid package designed to pull Argentine financial markets out of turmoil and support Milei ahead of congressional elections on Oct. 26.

Superpower rivalry between China and the U.S. is heating up across Latin America as China builds influence through economic aid. China has become a key ally of Argentina, supporting it with an $18 billion swap line, increasing trade and construction of a space launch station in Patagonia.

Bessent has cited Argentina’s wealth in rare-earth minerals, noting China’s latest restrictions. Before the U.S. and Argentina finalized the swap on Thursday, Milei said the U.S. hadn’t made ending the China swap line a condition for its help.

Trump on Friday threatened an additional 100% tariff on China as well as export controls on “any and all critical software” beginning Nov. 1. He said he could back down if China retreats from its rare-earth restrictions.

Milei’s pro-U.S. stance puts him in a bind in trade disputes between the world’s two largest economies. After lashing out at Beijing during his election campaign, the libertarian leader pivoted, calling China a great trading partner.