Foreign Trade
US House Foreign Affairs Committee Chair Warns of China Role in Argentina Contract Bid
U.S. House Foreign Affairs Committee Chairman Rep. Brian Mast warned Secretary of State Marco Rubio of "Chinese malign influence" in Argentina's 25-year contract bid to dredge and operate the Parana River, estimated at $10 billion in investment. Mast alleged that Belgium's Jan De Nul maintains links to Chinese state-owned entities through Argentine firm Servimagnus. The Trump administration, allied with President Javier Milei, expressed grave concerns about Chinese involvement, while the competing Deme Group consortium—backed by KKR and U.S.-based Great Lakes Dredge & Dock—received U.S. Department of Commerce support.
