Argentina's libertarian President Javier Milei and conservative US President Donald Trump exchanged praise during a meeting at the White House on Tuesday.

Milei said he was "very honored" to be at the White House with Trump, and thanked Trump for "his great leadership" in the wake of a ceasefire and hostage release deal in Gaza.

"We can follow a follow a peaceful route and make Argentina a strong example for freedom and prosperity," Milei said.

Trump on Milei: 'He's MAGA all the way'

Trump, meanwhile, called Milei a "very great leader."

He described Milei as "MAGA all the way" or "Make Argentina Great Again." 

Trump emphasized his endorsement for Milei as Argentina is expected to hold midterm legislative elections in October and a presidential election in 2027.

Trump said that should his libertarian friend not win in 2027, the US "would not be generous to Argentina."

Regarding the chances of securing a free trade agreement with Argentina, Trump said such a deal is a possibility.

"We're going to discuss some of it today," the US leader said, adding that the US wants to "help Argentina, and we want to always help ourselves."

"We will be trading with Argentina," Trump concluded.

Trump admin under fire for Argentina bailout

Argentina under right-wing Milei has become one of the Trump administration's closest allies in Latin America.

This relationship is in contrast to the Trump administration's strained ties with left-leaning countries in the region, such as Colombia under Gustavo Petro or Brazil under Luiz Inacio Lula da Silva. 

Since taking office, Milei has implemented a series of aggressive reforms of drastic spending cuts and deregulation. Although these austerity policies have slowed inflation, poverty has risen and vulnerable groups such as pensioners have been hit hard by the reforms.

Argentina's economic woes have prompted the Trump administration to extend a financial lifeline to Buenos Aires in excess of $20 billion (€17.2 billion).

The use of taxpayer funds to prop up an economy in Latin America has drawn criticism for an administration that prides itself on being "America First." It also comes at a time when US government workers are going without pay in the middle of a shutdown.

Jeanne Shaheen, the top Democrat on the US Senate Foreign Relations Committee, said "the American people expect and deserve answers about the use of such a staggering amount of their tax dollars."

Edited by: Zac Crellin and Roshni Majumdar