Argentina's President Javier Milei said Thursday he would be willing to leave the South American Mercosur bloc if necessary to secure a coveted trade agreement with the United States.

Milei was in an ebullient mood, cheered on by an appreciative Davos audience. He has some justification for a victory lap after delivering Argentina’s first fiscal surplus since 2009 and wrangling monthly inflation to under 3% — from over 25% when he took office in late 2023.