The US president has said a $20bn currency swap with Argentina depended on the success of Javier Milei's coalition.

By his own account, Trump is offering $20 billion to Argentina to help its politically aligned president, Javier Milei, who faces a possible financial crisis and a legislative election on Oct. 26.

US President Donald Trump warned Tuesday he could sever struggling Argentina's financial lifeline if his libertarian ally Javier Milei's loses crucial legislative elections later this month.- 'Acute illiquidity' - With Argentina struggling to stave off yet another financial crisis and Milei's disapproval ratings rising,

Milei himself is not facing reelection this year, though he has seen his approval rating dip in recent months, despite combating inflation.

Trump joked that his body might not "be appreciated on the beach" during a White House meeting with Argentine President Javier Milei.

Wells Fargo & Co. shares soared after the firm laid out its first major update of a mid-term profitability target since regulators lifted an asset cap for the bank.

Dominic LeBlanc, the Canadian minister responsible for Canada-US trade, later told reporters that Trump and Carney had directed their officials “to quickly land deals”, which was a sign of progress.

The US president’s administration has promised US$20 billion to prop up the Latin American country’s struggling economy.

President Trump said the U.S. will not ‘be generous’ with Argentina if current president Javier Milei does not win in the upcoming midterm election. Photo: Stefani Reynolds/Bloomberg News