Skip to main content

Larson Launches Inquiry with Trade Subcommittee Democrats Probing $20 Billion Trump Bailout of Argentina’s Economy

October 22, 2025

East Hartford, CT - Today, Rep. John B. Larson (CT-01), a member of the House Trade Subcommittee, announced that he launched an inquiry with 54 of his Democratic colleagues into the Trump Administration’s $20 billion loan to Argentina.  

This billion-dollar bailout will undercut American farmers and ranchers already struggling to sell their crops and products due to the President’s cost-raising tariffs – which were not authorized by Congress – while benefiting Donald Trump’s MAGA ally. 

“At a time when federal workers are going without pay and millions of Americans are about to see their premiums skyrocket, this billion-dollar bailout for Argentina is a joke,” said Larson. “This loan gives Argentina a blank check to continue to purchase goods from China, while American farmers continue to be shut out of markets around the world thanks to Trump’s cost-raising tariffs. $20 billion in taxpayer funding would be better spent on extending Affordable Care Act tax credits for the American people. If Republicans refuse to act on health care, the average family in my district will see their premiums rise by $2,571 next year. We cannot let that happen. The Trump Administration must answer for this beyond questionable decision to bail out Trump’s ‘favorite president’ and instead work to end their health care crisis hurting our constituents here at home.” 

Larson and his colleagues sent a letter to U.S. Secretary of the Treasury Scott Bessent demanding answers on the Argentinian bailout. 

“In addition to our concerns about your misuse of Treasury’s authorities, the administration’s bailout has helped Argentina increase its trade with China — at the direct expense of American farmers,” the lawmakers wrote. We are also concerned by the apparent conflict of interest you have in negotiating a financial agreement that would bail out the Argentine economy. According to media reports, one of your friends and former colleagues, Robert Citrone, has invested heavily in Argentinean bonds and equities in Argentinean companies and, therefore, stands to lose from an Argentine default.” 

They demanded answers to the following questions: 

1. How many Argentine pesos did the U.S. Treasury purchase?   

2. What are the specific terms of the administration’s $20 billion loan?   

3. What, if any, agreement has Argentina made to cancel its credit arrangements with China before receiving financial support from the United States?   

4. What is the status of U.S.-China trade negotiations, particularly as it pertains to reopening market access for American farmers?   

5. What safeguards are in place to ensure that a U.S. financial assistance package to Argentina does not amount to undue election influence?  

6. What measures has the Treasury Department taken to ensure that U.S. taxpayer funds are not misused to benefit the Trump administration’s political allies or personal associates, such as Robert Citrone?   

Full text of their letter is available HERE