Scott Perry backs $40 billion loan to Argentina, despite backlash from local farmers

During a telephone town hall Wednesday night, U.S. Rep. Scott Perry (R-PA) iterated his full support for President Donald Trump’s controversial $40 billion bailout to Argentina while being critical of a separate beef deal.

After he was asked how sending the money aligns with Trump’s “America First” agenda, the Pennsylvania congressman argued that the money being sent to Argentina is a loan that will be paid back.

“Regarding my conversation with the president, it was about the beef, not the loan to Argentina. I approve of the loan to Argentina,” Perry said. “I do not approve of bringing in the beef from Argentina. We have producers in the United States of America that can do that work.”

NEW: During a town hall last night, U.S. Rep. Scott Perry (R-PA) told a constituent “I approve of the loan to Argentina” while disapproving of the beef deal with the country. pic.twitter.com/PwaZqceoct

— Heartland Signal (@HeartlandSignal) October 24, 2025

Trump’s rescue package includes a $20 billion currency swap between the U.S. Treasury and Argentina’s Central Bank to reinforce the country’s foreign currency reserves. After the swap, Treasury Secretary Scott Bessent announced an additional $20 billion to help pay for Argentina’s upcoming debt payments.

“It is a private sector solution to Argentina’s upcoming debt payments,” Bessent told the press at the Treasury Department, Axios reported. “We’ve actually been working on it for weeks.”

The move has been met with severe backlash from Trump voters and farmers in the United States. Soybean farmers were already frustrated by the administration’s tariff policies that led to America’s export market for the plant diminishing, as countries like China turned to Argentina as a trade alternative.

Voters have also expressed frustration with sending billions to a foreign country, which is governed by Trump-ally Javier Milei, while the U.S. government shutdown is imposing financial harm.

Perry, who has served in Congress since 2013, is a Trump ally and a former chair of the House Freedom Caucus. The 63-year-old is seeking reelection next year in Pennsylvania’s 10^th Congressional District, a race which is designated a tossup by Cook Political Report.