Argentina’s President Javier Milei met with tech billionaire Elon Musk in Texas on Friday to discuss free markets and technological development as the Argentine leader seeks to revive his country’s economy.
They also spoke about the importance of “eliminating bureaucratic obstacles that keep investors away” and technological development for the advancement of humanity, Mr. Adorni said.
“The President ratified the role of entrepreneurs in society. The businessman, in turn, committed himself to the ideas of freedom and pro-market governments that fight in this sense,” he stated.
Mr. Milei offered his collaboration to Mr. Musk, the owner of Tesla and X (formerly known as Twitter), in his legal battle in Brazil. This pertains to a Brazilian Supreme Court probe into Mr. Musk after he defied a court order requiring the removal of certain X accounts.
The tech billionaire also agreed to hold a major event in Argentina “in the near future to promote the ideas of freedom.”
Mr. Milei has been touring the United States, marking his third trip in four months as Argentina’s president. His visit comes as he seeks to reshape Argentine foreign policy to align more with Washington.
Argentina’s incoming ambassador to the United States, Gerardo Werthein, told local media that Mr. Milei and Mr. Musk also discussed lithium—a key component of electric car batteries—during the meeting.
“We talked about the investment opportunities in Argentina in lithium ... We’re very committed not only to exporting raw materials but also to adding value,” Mr. Werthein said in comments published by newspaper La Nacion. “(Mr. Musk) said he wants to help Argentina.”
Mr. Milei, who was sworn into office in December 2023, has pledged to reverse the crisis in Argentina, where annual inflation tops 276 percent and a reported 57 percent of people live in poverty, with tough measures.
The State Department’s investment climate statement last year noted “capital controls, trade restrictions, and price controls” hampered investors in Argentina. Mr. Milei has vowed to roll back interventionist policies with market-oriented changes favored by business executives.
His free-market policies have raised hopes in the United States that the metal and other essential raw materials like lithium can be extracted closer to home, breaking China’s dominance of the battery supply chain. The Biden administration said it was exploring investment opportunities in Argentine lithium earlier this year.
The United States, the biggest investor in Argentina, has the most influence over the International Monetary Fund (IMF), to which Argentina owes $42 billion. The IMF has endorsed Mr. Milei’s shock therapy for Argentina, agreeing to disburse $4.7 billion from a bailout package the country took out six years ago.
