US congressmen presented a bill to move the commercial or manufacturing activity of some companies from China to Latin America, one of them, Mark Green, reported Friday, estimating that it would help alleviate the wave of migration.
The Nearshoring bill (bringing production closer to end markets) “is a triple win,” says Green.
“First, it makes the United States less dependent on Chinese manufacturing. Second, it’s a win for Latin America because it will create more jobs and economic growth without a cent on the taxpayer dollar, and third, as opportunities increase. ” Nearshoring “will decrease migration” on the border with Mexico, affirms this Republican congressman.
The other proponent of the bill, Democrat Albio Sires, estimates in a statement that “it is a fundamental part of our strategy to compete with China.”
“By encouraging producers to move to Latin America and the Caribbean, we can contain the influence of China while creating economic opportunities, addressing the root causes” of migration to the United States, mainly from Central America, he added.
Both belong to the Subcommittee on the Western Hemisphere, Civil Security, Migration and International Economic Policy of the House of Representatives.
China, a permanent member of the UN Security Council, is the first or second trading partner of many Latin American and Caribbean countries.
The bill, introduced Thursday, “raises the standard of living in Latin America through foreign investment” and creates a low-interest loan program for companies to move their factories from China to Latin America, promoters say in a release.
As it is financed with “Chinese tariffs, it costs the taxpayers nothing,” they insist, convinced that this would curb the influence of the Asian country in the region.
In February, the House of Representatives approved a bill to relocate electronic chips, essential for the production of smartphones and cars, to the United States.