US President Joe Biden will announce at the Americas Summit this week an economic partnership focused on promoting economic recovery for the Western Hemisphere through existing trade deals, US government officials said on Monday.
Dubbed the “Americas Partnership for Economic Prosperity,” the plan will cover five areas, including stimulating investment, stimulating institutions, clean energy jobs, resilient supply chains and sustainable trade.
“The overall goal is to build our economies bottom-up and middle-out on the foundation created by our free trade agreements with the region to better address inequality and the lack of economic opportunity,” a senior government official told reporters. on a conference call.
The plan aims to offer an alternative in a region where China has expanded its sphere of influence. However, it was unclear how many Latin American countries would agree to such an arrangement.
The United States is hosting the Americas Summit in Los Angeles, a meeting where Biden aims to address regional immigration and economic challenges. On Monday, the White House said it would not invite Cuba, Venezuela and Nicaragua and urged the Mexican president not to attend the event.
source: Noticias
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