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At the top of the reboot, Biden explains new latin america economic plan

by John Pierce
July 3, 2023
in Business
4 min read
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US President Joe Biden announced on Wednesday suggested new US economic partnership with Latin America was meant to counter China’s growing influence as it kicked in off A regional summit marred by strife and contempt over guest list.

host summit of Americas in Los Angeles, Biden sought to reassure the assembled leaders about his administration’s commitment to region Despite the nagging concerns expressed by Washington in timesstill trying to dictate to its poorer southern neighbours.

The lineup of Heads visit of country and government in double attendance down to 21 after Biden ruled out Cuba, Venezuela and Nicaragua, prompting Mexican President Andres Manuel Lopez Obrador and several other leaders to turn away. in Protest.

We have to invest in industry sure our trade sustainable and responsible in creating supply chains more flexible, more safe and more sustainable,” Biden said at the opening ceremony.

Biden seeks to present Latin America countries with An alternative to China who calls for Increased US economic participation, including more investment and building on Existing trade deals.

However, his company ‘Partnership of the Americas for economic prosperity”, which still seems to be a work in progressshort pause of Provide tariff exemption, and according to a senior Administration officialwill focus at first on “Like the partners’ mind” it already We have the United States trade agreements. Negotiations are expected begin in early autumn, the official added.

Biden outlined his plan when he launched the summit, which was envisioned as a platform to showcase American leadership in Recovery and treatment of Latin American economies record levels of Irregular immigration at the US-Mexico border.

But his agenda has been undermined by partisanship boycott by leaders resentful of Washington decision To cut out that it main left opponents in The region.

as a resultBiden found Himself welcomes loneliness larger than usual of Seated foreign ministers in for they national Leaders also walked the next dignitaries one-by-one up red carpet surrounded by a military Honor Guard.

US officials hope for a summit and a parallel gathering of business Executives can boot way for More cooperation with governments grappling with higher inflation work To bring supply chains stretched From the COVID-19 pandemic closer to home.

Biden also use his words for preview summit announcement on Migration must be rolled back out on Friday, describing it as “pioneering and integrated new Approaching” with Shared responsibility across the hemisphere. But he gave few details.

Even with Biden’s deals with Priorities like mass shootings, high inflation, the Ukraine-US war official The president said he seeks to press the objectives of competitive management against China with release of The new partnership for The region.

American plan also It proposes revitalizing the Inter-American Development Bank and creating clean energy jobs

However, it seems that the management moving With caution, bearing in mind that an initiative that promotes jobs abroad can do just that face American protectionist setback.

China challenge

The challenge From China is clearly a major consideration.

China widened the gap with United State in trade terms in big portions of Latin America since Biden’s entry office in January 2021, data shows.

Reuters analysis of United nations trade From 2015 to 2021 shows who – which outside of Mexico, the top of the United States trade Partner, China has overtaken the United States in Latin America and increasing its advantage last year.

“The best Antidote to the invasion of China in The region he is ensure We are redirecting our positive vision for The region economically “management” official He said.

Biden aides portrayed the summit as an opportunity for The United States to confirm its leadership in Latin America years later of Comparative neglect under his predecessor Donald Trump.

But diplomatic tensions erupted this week when Washington chose not to invite the three countries He. She says It violates human rights and democratic values.

to reject in for him demand That’s it countries He should be invited, Lopez Obrador said, to stay away, distracting from the US administration’s goals and toward regional divisions.

Biden national Security advisor Jake Sullivan told reporters that some leaders’ choice not to attend reflects their “private idiosyncrasies.” decisions”That’s objective work It will still be done.

Cuban President Miguel Diaz-Canel said the United States lacks the “moral authority” to lecture on Thank you, Lopez Obrador for “Solidarity”.

leaders of Guatemala and Honduras, two of The countries that sends most immigrants to the United States, also stayed homewhich raises questions about the importance of of Next joint immigration announcement.

Still, the leaders of more from 20 countriesincluding Canada, Brazil and Argentina, attend the summit, hosted by the United States for The first time since it opened session in 1994.

Biden will use meeting on Thursday with Brazilian President Jair Bolsonaro to talk about climate change and the will also topic discussion of Open, transparent and democratic elections in Brazil.

Bolsonaro, a populist fan of trump who Relationships were lukewarm with Biden, raised doubts about Brazil’s vote systemwithout providing evidence, in the future of October elections that do opinion polls show His loss to his leftist opponent Luiz Inacio Lula da Silva.

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