Biden announces a fresh Latin American economic agenda

• Despite nagging fears that Washington is still trying to dictate to its poorer southern neighbours, Biden sought to reassure the assembled leaders about his administration’s commitment to the area by hosting the Summit of the Americas in Los Angeles.
• After Biden left out Cuba, Venezuela, and Nicaragua, the number of visiting heads of state and government was reduced to 21, forcing Mexican President Andres Manuel Lopez Obrador and several other leaders to boycott the event.

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• Biden is attempting to present Latin American countries with a viable alternative to China, one that calls for stronger US economic participation, including higher investment and the expansion of existing trade agreements.

Biden revealed a planned new US economic relationship with Latin America aimed at fighting China’s growing dominance as he kicked off a regional meeting marked by disagreement and snubs over the guest list,

Despite nagging fears that Washington is still trying to dictate to its poorer southern neighbours, Biden sought to reassure the assembled leaders about his administration’s commitment to the area by hosting the Summit of the Americas in Los Angeles.

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After Biden left out Cuba, Venezuela, and Nicaragua, the number of visiting heads of state and government was reduced to 21, forcing Mexican President Andres Manuel Lopez Obrador and several other leaders to boycott the event.

“We must invest to ensure that our trade is sustainable and responsible, developing supply chains that are more resilient, secure, and sustainable,” Biden said during the gala opening ceremony.

Biden is attempting to present Latin American countries with a viable alternative to China, one that calls for stronger US economic participation, including higher investment and the expansion of existing trade agreements.

His “Americas Partnership for Economic Prosperity,” which is still a work in progress, does not give tariff relief and, according to a senior administration official, would initially focus on “like-minded countries” who already have trade agreements with the United States. Negotiations are scheduled to start in the early fall, according to the official.

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