(Original title: Argentina's statement: Will not affect China-Argentina agreement)

The Network of Observers.

When the United States and Argentina finalized the $20 billion currency swap framework agreement, the United States was sowing discord between Argentina and China and trying to stir up the Sino-Arab currency swap agreement.

Bloomberg reported that Argentine Minister of Economy Luis Caputo said on October 12th, local time, that the U.S. Treasury's support for the Argentine peso was "unwavering", but he also pointed out that the U.S. intervention would not affect the currency swap between Argentina and China.

In an interview with Buenos Aires TV station LN +, Caputo reportedly said that the United States is "willing to continue to buy pesos and bonds, and all options are under consideration."

"Today, the world's number one power is saying to the Argentines: We will do everything we can to help you get back on track." Caputo said.

Video screenshot of Argentine Economy Minister Caputo

At the time of his speech, President Millei of Argentina is about to visit the United States to meet with President Trump in the White House on October 14.

Meanwhile, less than two weeks are left to the midterm elections in Argentina, which are seen as an important measure of Mills political strength.

On October 9, local time, the U.S. Treasury Department announced the direct purchase of the Argentine peso and signed a $20 billion exchange framework agreement with the Argentine central bank.

The Trump administration views the Millay administration as a firm ally. Bloomberg previously pointed out that the measures announced by the United States are aimed at helping Argentina's financial market escape turmoil and providing support to Millay ahead of Argentina's mid-term elections on October 26.

Caputo stressed on the 11th that the agreement reached with the U.S. Treasury Department does not mean that Argentina will implement dollarization or devaluation of the peso. He hinted that Argentina would maintain the current exchange rate band system after the mid-term elections.

Caputo also reportedly added that the US intervention will not affect Argentina's $18 billion currency swap agreement with China.

Earlier, it was reported that the Trump administration had pressured Argentina to cancel its currency swap agreement with China.

Hong Kong's South China Morning Post said that U.S. officials have long been making irresponsible remarks about the currency swap agreement signed by Argentina and China. U.S. hype claims that the currency swap agreement, which was renewed last year and is currently worth about US$18 billion, poses long-term risks to Argentina's sovereignty and creates opportunities for China to expand its influence in South America.

Miley made controversial remarks about the future of al-China relations during the presidential campaign, but after being elected president, his position towards China turned 180 degrees.The South China Morning Post believes that from the October interview last year, changing the name of China as a "very interesting business partner" to saying that the renewal of the currency exchange agreement with China made him "very surprised", which indicates that Miley took a more "practical" attitude toward China after taking office.

On the other hand, the United States is trying to challenge the relationship between the two countries. Bloomberg said that U.S. Treasury Secretary Bessent said in the Fox News show on October 9 that Miley "is committed to pushing China out."

U.S. Treasury Secretary Besson.

The Chinese Embassy in Argentina refuted Bescent's remarks.

According to news on the website of the China Embassy in Argentina on the 11th, a spokesperson for the China Embassy in Argentina said that U.S. Treasury Secretary Basent's provocative remarks on China-Arab relations and China-Latin America cooperation once again exposed the deep-rooted Cold War and confrontational mentality of some people in the United States.

The spokesman pointed out that Latin America and the Caribbean are not anyone's "backyard", and China-Latin America cooperation is not aimed at third parties, nor should it be interfered by third parties. Countries in the region have the right to choose their own development paths and partners. Instead of sowing discord and making much ado about nothing with other countries' friendly cooperation, the United States should do more tangible things for the development of Latin American and Caribbean countries.

Further reading:

Argentina raises high uranium export standards: even if it blames the United States, it must be sold to China

When U.S. Treasury Secretary Scott Bessent read the sharp text at the United Nations General Assembly, the calculation behind the Trump administration¡¯s $20 billion spending seemed to be blurred. Recently, Argentina has also raised high-carbon export standards to increase exports to China by tightening indicators such as capacity, impurities.

The Hong Kong-English media South China Morning Post on October 6 that the move could increase the pressure on Argentina's relations with the United States.

According to reports, the Argentine Agricultural Secretariat has issued a resolution to divide exported sorghum into three standards: 72kg, 70kg and 67kg per hundred liters according to grades. At the same time, it strictly limits the content of broken grains and non-grain substances, and goods that do not meet the standards will lose their export certification qualification.

The measure also updates how sorghum is graded to meet foreign feed and processing requirements, the resolution said, saying the changes will help avoid shipments being rejected and strengthen Argentina's reliability as a supplier.

Argentina's Agriculture Secretariat said in a statement that the measure aims to "promote domestic sales, improve the quality of domestic production, and improve Argentina's position in more demanding markets." Officials said the adjustment brought local standards in line with those adopted by major trading partners.

The resolution replaces a 1994 regulation and mentions that China has become Argentina's main sorghum buyer since 2021, saying that "higher export volumes make it necessary to adjust quality parameters to fit global market demand".

According to the report, the statement linked the standard update to China's import requirements, indicating that the new standard is intended to meet the expectations of the Chinese market for grain quality and quality stability.

Government data show that China has become Argentina¡¯s main buyer of high-quality uranium, covering almost all of Argentina¡¯s high-quality uranium exports this year.

Officials said the stricter export standards are aimed at maintaining stable cooperation between Argentina and China in the field of sorghum trade by improving the consistency and traceability of goods.

The South China Morning Post noted that the new rules highlighted Argentina¡¯s efforts to expand exports of agricultural products to China. Before the first round of tariffs imposed by the Trump administration, U.S. farmers had met China¡¯s high-carbon demand by about 90 percent.

Argentine farmers harvest autumn soybeans

In November last year, Brazil signed a cooperation document with China, and after China agreed to open its market to Brazilian sorghum, the Brazilian Ministry of Agriculture urged farmers to increase the production of corn and sorghum. Last month, Argentina announced the cancellation of export taxes on soybeans, corn, wheat and by-products to stimulate exports. Argentina is the third largest soybean producer in the world, after Brazil and the United States. Its soybean tariffs were once as high as 26%, and soybean oil and soybean meal tariffs reached 24.5%. Now they have been reduced to zero, stimulating sales of $7 billion in two days, most of which are sold to China.

Brazil and Argentina have seized most of the market share of Chinese imports from the United States, consolidating South America¡¯s position in China¡¯s feed supply chain, while U.S. farmers can only watch another export season quietly pass.

Last month, U.S. Treasury Secretary Bessent received a private message during the United Nations General Assembly in New York, which contained accusations against Argentina¡¯s reduction of export taxes.We saved Argentina yesterday, resulting in Argentina abolishing grain export taxes and selling them to China at lower prices, which should have been our sales window.

The text message mentioned that Argentina's low-price strategy has caused the price of soybeans in the United States to continue to fall, "which will give China a greater bargaining chip over us."

In early September, Argentina¡¯s ruling coalition¡¯s election defeat caused severe turmoil in the financial markets, and Trump soon said he would consider helping.The United States plans to support the Argentine economy with $20 billion in currency exchanges and bond purchases to help the Millie government cope with election pressures and stabilize the financial markets.

Under the support plan, Argentina was supposed to scale back its financial cooperation with China, including a $18 billion currency swap line. However, the Argentine government's final choice made the United States feel deeply "stabbed in the back".

Chinese flag and Argentine flag data map

However, as the consequences of US President Trump's triggering trade conflict, the world's largest soybean buyer China has not ordered a bit of US autumn harvested soybeans.As Brazil and Argentina continue to occupy the Chinese market, the space for exporting US agricultural products is continuously shrinking.

Xie Feng, Chinese Ambassador to the United States, pointed out at the Sino-US Soybean Industry Partners Breakfast Meeting held in Washington in August that China and the United States are both the most important agricultural producers and consumers in the world, jointly supporting nearly 40% of global food production and nearly 1/4 of global food production. China has a comparative advantage in the field of labor-intensive agricultural products, while the United States focuses on mechanized and large-scale production of land-intensive bulk agricultural products. Both sides take the lead and can completely complement each other's advantages.

Xie Feng said that agriculture should not be kidnapped by politicization and farmers should not pay the bill for trade wars. The ban on China citizens and companies from purchasing farmland is purely a political manipulation in the name of national security. It is selling dog meat in the name of sheep's head and kidnapping Sino-US agricultural cooperation for selfish gain. China is willing to work with the US to implement the important consensus of the two heads of state, give full play to the role of China-US economic and trade talks mechanism, enhance consensus, reduce misunderstanding, strengthen cooperation, share development dividends and return to win-win situation.