US support for Argentina hinges on the ruling party of President Javier Milei succeeding in this month's midterm legislative elections, President Donald Trump says.

Trump and Milei were meeting at the White House just days after the US agreed to provide a major financial lifeline to the South American nation.

"I'm with this man because his philosophy is correct, and he may win it," Trump said ahead of a White House lunch with Milei.

"He may not win, but I think he's going to win. And if he wins, we're staying with him. And if he doesn't win, we're gone."

Trump's remark rattled Argentine markets that had been buoyed by the support package recently announced by US Treasury Secretary Scott Bessent.

The centrepiece of that deal is a $US20 billion currency swap with Argentina's central ban

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