Amy Klobuchar, United States Senator from Minnesota | Twitter
Senators Amy Klobuchar (D-MN) and Elizabeth Warren (D-MA), along with 12 other senators, have sent a letter to President Trump urging him to stop a planned $20 billion bailout for Argentina. The senators argue that the financial support would harm American farmers, particularly those producing soybeans.
The letter points out that Argentina recently suspended export taxes on soybeans, which makes its agricultural products more competitive in global markets. This move has had immediate effects on American farmers, who are already struggling due to existing tariffs and declining export opportunities.
“We write with deep concern regarding your plan to send a $20 billion bailout, funded by American taxpayers, to Argentina just days after the country took steps to undermine American farmers,” wrote the Senators. “Last week, Argentina announced its plan to suspend export taxes on soybeans, effectively sidelining American soybean farmers in the international market.”
“Despite Argentina’s decision, you are still reportedly moving forward with the bailout for the country,” the Senators continued. “American soybean farmers – who are already reeling from your sweeping tariffs – deserve better.”
Other signatories of the letter include Leader Chuck Schumer (D-NY), and Senators Tammy Baldwin (D-WI), Cory Booker (D-NJ), Chris Coons (D-DE), Tammy Duckworth (D-IL), Dick Durbin (D-IL), Tim Kaine (D-VA), Jack Reed (D-RI), Bernie Sanders (I-VT), Elissa Slotkin (D-MI), Tina Smith (D-MN), and Chris Van Hollen (D-MD).
In their letter, the senators describe how U.S. trade policies have led to higher costs for inputs such as fertilizer and equipment while retaliatory tariffs have reduced competitiveness abroad. They note that nearly 20 percent of U.S. farm production is typically exported but that these markets are now at risk.
The senators highlight that since May, China has not purchased any U.S. soybeans and overall purchases through July were down by 51 percent compared to last year.
They also express concern about the timing of U.S. financial support for Argentina amid an upcoming midterm election there: “Argentina’s President, Javier Milei, is notably one of your close personal friends and ideological allies and faces a crucial midterm election on October 26.”
According to reports cited in the letter, Chinese buyers have bought up to 40 cargoes of soybeans from Argentina in just one week following these policy changes.
The senators question why taxpayer money should be used in this way: “It is unclear why you are choosing to use taxpayer dollars to bolster the reelection campaign of a foreign president while they take steps to undermine U.S. farmers.” They cite concerns from groups like the American Soybean Association about falling prices during harvest season.
The lawmakers argue that rather than providing short-term aid packages or supporting foreign governments financially, efforts should focus on stable trade policies that benefit American producers over time.
They conclude: “We call on you and your Administration to immediately halt any plans to provide financial assistance to Argentina. Instead of subsidizing a foreign country...you should prioritize lowering costs for American families and strengthening the nation’s agricultural competitiveness.”
