China, US clash over major Argentina currency swap line

9/4/2025 6:16

China is on a crash course with the United States over a major Chinese currency swap deal with Argentina that has buffered the South American country's depleted foreign reserve levels even as it seeks a new deal with the Washington-based IMF.



In a talk at Miami Dade College late last week U.S. Special Envoy for Latin America Mauricio Claver-Carone slammed the long-standing $18 billion swap line as amounting to "extortion" by China and said Washington wanted to see it ended.



On Tuesday Chinese foreign ministry spokesman Lin Jian, in a regular press conference, shot back at the United States, alleging that Washington was trying to "drive a wedge" between China and partners in Latin America.



"Fair-minded people are able to tell who is extorting and coercing others and making trouble," he said in response to a question about Claver-Carone's comments.