The Donald Trump administration’s newly released national security strategy marks a decisive turn in US foreign policy. It distances Washington from Europe, tacitly concedes Russian and Chinese zones of influence and reasserts Latin America as an area of strategic US concern.
But this return to hemispheric focus risks repeating a familiar mistake: overestimating US leverage while underestimating the ramifications of economic fragility of the countries it hopes to influence.
Nowhere is this clearer than in Argentina.
Argentina continues to experience precarious economic conditions despite recent aid from Washington and the International Monetary Fund. US Treasury Secretary Scott Bessent’s approval of a US$20-billion currency swap may have provided temporary aid but it will not address the root cause of its long standing economic instability.
If the United States wants
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