US Republican and Democratic congressmen introduced legislation this Wednesday aimed at expanding trade and investment in Latin America and the Caribbean. counter Chinese influence in the region.

“There is a great reward” for Latin American countries in this project, said Congresswoman Maria Elvira Salazar. “The idea is that they can join a free trade agreement with the United States and Canada.”

The legislation will also provide $60 billion in loans and $10 billion in tax breaks. help American companies return to the country.

“And it won’t cost taxpayers a dime.” said Democratic Congressman Adriano Espaillat, another of the promoters. Additionally, he said the legislation was “paid for entirely by eliminating tariff loopholes that China has exploited for thirty years to enrich itself.”

Trade and investment project called “America’s Law”. “This is the most important thing in US history. against our Latin American neighbors,” Salazar, a Republican, said at a press conference.

“We are reimagining American leadership.” in the Western Hemisphere he added.

“Imagine that Ecuador, Peru, Central America, Bolivia, which “They can become part of the club of the greats in commercial exchange.”– he pointed out.

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Latin America is the only region with which the United States has a trade surplus, with exports in 2023 they reached $200.27 billion.compared to imports of $145.408 million, according to the Bureau of Economic Analysis (BEA, in English).

Democrat Espaillat said that “The Americas Act, with its relocation and near-offshoring credits at home and in our partner countries in the Western Hemisphere, will bring jobs and investment back to our hemisphere and “This will stop the fundamental causes of migration.”

As the congresswoman explained, this initiative will bring manufacturing jobs back to the United States, expand the country’s alliances in Latin America and will confront “the threat that communist China poses to our continent.”

Republican confirms China has a strategy “Penetrate and conquer the Western Hemisphere compete with American companies for control of ports, railroads, airports, dams, important minerals and many other key sectors.”

“Unfortunately, “They are winning the battle.”he added.

The initiative also has the support of Senators Bill Cassidy, a Republican, and Michael Bennet, a Democrat.

(EFE)