Foreign policy faces difficult balance in Argentina

Significance

Milei has few allies on the international stage, particularly in Latin America, where he frequently clashes with many of his counterparts. He views himself as a global leader of the far right, often prioritising ideological affinities over traditional diplomatic relationships.

Impacts

• Though much of Milei’s rhetoric against foreign leaders plays to his domestic audience, it risks an adverse international impact.
• Relations with Brazil have stabilised after early public clashes between Milei and his Brazilian counterpart but will remain fraught.
• Argentina will work to deepen economic ties with China, recognising its importance as a key trade partner, investor and financier.
• Despite Milei's pro-market agenda, Western investors will delay new projects pending economic stabilisation and an end to capital controls.