The Price for a U.S. Bailout of Argentina

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Caitlin McCabe (0:19)

Farm aid frozen by the shutdown is due to be released to help farmers harvest their biggest crop ever. Plus, a flurry of White House officials touched down in Israel to help shore up the fragile ceasefire deal.

Anat Peled (0:34)

The next 30 days are crucial because right now they're in the first stage of the agreement, which was more of a prisoner and hostage exchange. But the US wants to move to a second stage of the agreement, which is even thornier.

Caitlin McCabe (0:45)

And how the bankruptcy of tween retailer Claire's has sent lawyers and a judge down memory lane. It's Wednesday, October 22nd. I'm Caitlin McCabe for The Wall Street Journal. And here is the AM Edition of What's News. The top headlines and business stories moving your world today.

We begin today with a journal exclusive as we've learned that the Trump administration is planning to release more than $3 billion in aid to US farmers that have been frozen as a result of the government shutdown. According to administration officials, Trump directed the agriculture department to distribute the money from a fund that was used to bailout distressed farmers during Trump's first term. Journal agriculture reporter Patrick Thomas says it will help a sector that has been grappling with the fallout from President Trump's trade war with China.

Patrick Thomas (1:37)

So American farmers are in a really tough position right now between low commodity prices for corn and soybeans and rising costs for equipment, fertilizer and other farmer needs. What they were really getting concerned about during the government shutdown was that they were going to lose some of the funding for traditional safety nets that these real crop farmers often have. And that over the next 30 to 60 days, if Congress didn't reach a resolution here, they wouldn't be able to access that money after we finished the harvest season, which should be wrapping up in the coming weeks. So this helps keep farmers afloat, at least in the short term here.

Caitlin McCabe (2:19)

USDA plans to resume core operations at the Farm Service Agency on Thursday. The administration is discussing a bailout of more than $10 billion for struggling farmers. But officials say that new relief is on hold while the government is shut down. Meanwhile, we're also reporting that the Trump administration is pushing officials in Argentina to limit China's influence over the distressed South American country. It comes as Wall Street banks are working with the US government on a $40 billion lifeline for Buenos Aires. According to people familiar with conversations in recent weeks between Treasury Secretary Scott Bessent and Argentina's economic minister, talks have touched on curbing China's access to resources and critical minerals and granting the US expanded access to uranium. Argentina's finance ministry declined to comment while a spokesman for President Javier Malé didn't respond to comment requests. And a Trump nominee has withdrawn from a Senate confirmation hearing to lead the White House Ethics Watchdog Office after a report that he made racist and anti-Semitic comments in a text chain. The move by Paul Ingracia came after Republican senators voiced opposition to the nomination to lead the office of special counsel. And Senate Majority Leader John Toon told reporters on Monday the president's pick didn't have the votes to be confirmed. In a social media post, Ingracia said he removed himself from the Thursday hearing because he didn't have enough votes, but didn't say he was withdrawing his nomination.

US leaders, including Vice President JD. Vance, are in Israel this week, as the Trump administration works to keep an ever-fragile Gaza ceasefire deal from collapsing. Vance is expected to meet with Israeli Prime Minister Benjamin Netanyahu today, according to an Israeli official, following his visit yesterday to a civil military operation center monitoring the truce.

JD Vance (4:19)

What we've seen the past week gives me great optimism the ceasefire is going to hold. And if we get from where we were a week ago to a long-term, durable peace between Israel and Gaza, there are going to be hills and valleys, there are going to be moments where it looks like things aren't going particularly well. But given that and given the history of conflict, I think that everybody should be proud of where we are today.

Caitlin McCabe (4:42)

Vance also reiterated recent comments from President Trump, saying that if Hamas doesn't cooperate, it will be, quote, obliterated. His remarks came after a flare up in violence in recent days, though Israel and Hamas have signaled they aren't interested in collapsing the deal. Anat Peled is on the ground in Tel Aviv and joins me now. Anat, walk us through the tensions that we've seen between Israel and Hamas in recent days.