The 80th United Nations General Assembly in New York, held from September 23 to 27, 2025, unfolded against a backdrop of global uncertainty, shifting alliances, and deepening divides—especially between the United States and several Latin American nations. As world leaders gathered to mark the UN’s eightieth birthday, the event became a stage not just for ceremonial speeches, but for sharp policy clashes, high-stakes diplomacy, and urgent appeals for action on everything from climate change to economic rescue.
One of the most closely watched developments was the meeting between U.S. President Donald Trump and Argentina’s President Javier Milei. This encounter, taking place on the sidelines of the Assembly, came at a moment of acute financial turmoil for Argentina. The country’s economic woes had intensified following Milei’s party’s defeat in the Buenos Aires provincial midterm elections on September 7, which triggered a rapid selloff of the peso and sent shockwaves through the nation’s financial markets. The Argentine central bank was forced to spend more than $1.1 billion in just three days to keep the currency within the International Monetary Fund’s non-intervention bands, a move that raised alarms about dwindling dollar reserves and the country’s ability to meet looming debt obligations.
After their meeting, President Trump told reporters, “We’re going to help them. I don’t think they need a bailout,” offering a gesture of solidarity but stopping short of promising direct financial aid. The following day, U.S. Treasury Secretary Scott Bessent provided more concrete details: the United States was prepared to purchase Argentina’s U.S. dollar-denominated bonds and negotiate a $20 billion currency swap line with Argentina’s central bank. Bessent also announced the possibility of delivering significant stand-by credit via the Exchange Stabilization Fund, which currently holds about $19 billion in liquid foreign currency assets. He emphasized that the U.S. “stands ready to purchase secondary or primary government debt,” contingent on the outcome of Argentina’s upcoming national midterm elections on October 26.
The U.S. support—while not a traditional bailout—was seen as a critical lifeline for the Milei government. According to Americas Quarterly, these announcements, combined with a temporary tax holiday for grain exporters expected to generate more than $7 billion in foreign exchange, helped stabilize Argentine markets. The country’s risk index, which had spiked to 1,500 basis points, retreated toward 1,100, and both the peso and Argentine bonds staged a sharp rally. Yet, as analysts noted, the underlying sense that Milei’s economic reforms were “hanging by a thread” was hard to ignore. The government’s weakened political position, fueled by corruption allegations against Milei’s sister and advisor Karina Milei (which she denies), and a stagnating economy with little job creation, cast a long shadow over its prospects in the October midterms.
The U.S. intervention marked a notable shift in Washington’s approach to regional crises. Bessent described the support as “large and forceful,” signaling a willingness to act decisively, in contrast to the more cautious stance of previous administrations. The last time the U.S. mobilized a stabilization package of this magnitude in Latin America was the 1995 rescue of Mexico. The World Bank also accelerated up to $4 billion in financing as part of a broader $12 billion package for Argentina, focused on sectors like mining, tourism, and energy.
Trump’s public endorsement of Milei’s reelection bid in 2027 was a powerful political signal, reinforcing Milei’s narrative of competence and reform. The move was also seen as a reward for Milei’s own endorsement of Trump during the U.S. presidential campaign and his close ideological alignment with the former president. For Argentina, the stakes of the October election suddenly grew even higher, with U.S. backing potentially tipping the scales. However, critics within Argentina and across Latin America warned that such support could come at the cost of domestic sovereignty, add to the debt burden, and require painful concessions—concerns that opposition parties were quick to amplify.
While Trump and Milei showcased a budding alliance, the mood elsewhere in Latin America was far less harmonious. At the General Assembly, the presidents of Colombia, Brazil, and Chile used their speeches to launch pointed critiques of Washington’s policies. Colombia’s President Gustavo Petro, in a fiery final UN address, condemned U.S. military actions in the Southern Caribbean—specifically strikes that killed 17 people on alleged drug trafficking boats—and accused Trump of complicity in what he called the “genocide” in Gaza. “Trump is complicit in the genocide, because it is a genocide and we must scream it at the top of our lungs over and over again,” Petro declared, as reported by Al Jazeera. Petro also bristled at the Trump administration’s recent decision to decertify Colombia as a drug cooperation partner, defending his own record and lashing out at what he called “absurd” U.S. drug policies.
Brazil’s President Luiz Inácio Lula da Silva, in his opening speech to the Assembly, decried U.S. sanctions on Brazil—including a hefty 50% tariff on exports—calling them “unilateral and arbitrary measures against our institutions and our economy.” Lula also celebrated the conviction of former President Jair Bolsonaro for a 2023 coup attempt, presenting Brazil’s democracy as resilient in the face of autocracy. He took indirect aim at Trump, warning of “attacks on sovereignty, arbitrary sanctions, and unilateral interventions becoming the rule.” While Lula and Trump did meet briefly at the UN and reportedly planned a follow-up, the Brazilian leader’s tone was unmistakably critical. Lula also used the occasion to urge action on climate change, touting Brazil’s upcoming hosting of COP30 and proposing the creation of a Tropical Forest Forever Facility to prevent deforestation.
Chile’s President Gabriel Boric, meanwhile, condemned violence in Palestine, Iran, and Ukraine, and called for Israeli Prime Minister Netanyahu to be tried by an international court—directly clashing with Washington’s defense of Israel. Boric also lambasted Trump’s denial of climate change, stating, “It has been claimed on this very podium today that there is no such thing as global warming. That is not an opinion, it is a lie, and we must combat lies.” Boric, who is pushing for ambitious green legislation at home, moderated a summit on democracy and extremism alongside leaders from Brazil and Spain, emphasizing the need for a “modern, democratic left that defends human rights.”
The Assembly also saw new faces and shifting priorities. Uruguay’s President Yamandú Orsi and Suriname’s Jennifer Geerlings-Simons delivered their inaugural addresses, with Orsi promoting Uruguay’s model of stability and Simons advocating for climate finance and regional peace. On migration, narcotrafficking, and democracy, Latin American leaders repeatedly called for multilateral solutions and a more representative UN system. Debates flared over the U.S. and Panama’s proposed expansion of the Haiti security mission, with Caribbean leaders expressing both support and reservations.
Throughout the week, the interplay of geopolitics, ideology, and economic necessity was on full display. From the high-wire act of U.S.-Argentine cooperation to the defiant speeches of left-leaning leaders, the 80th UN General Assembly became a microcosm of the region’s hopes, grievances, and ambitions. Whether these moments of confrontation and collaboration will yield lasting change—or simply set the stage for further discord—remains to be seen. For now, the world’s eyes are on Latin America, as its leaders navigate a complex new era of global politics and economic uncertainty.