US President Joe Biden will announce this week at the Summit of the Americas an economic partnership for the Western Hemisphere focused on promoting economic recovery through existing trade agreements, US government officials said on Monday. 6).
Dubbed the “Partnership of the Americas for Economic Prosperity”, the plan will cover five areas, including mobilizing investment, reinvigorating institutions, clean energy jobs, resilient supply chains and sustainable trade.
“The overall objective is to build our economies from the bottom up and from the middle out, on the basis established by our free trade agreements with the region to better address inequality and lack of economic opportunity,” said a senior government official. to reporters on a conference call.
The plan would aim to offer an alternative in a region where China has been expanding its sphere of influence. It was not clear, however, how many Latin American countries would accept such an arrangement.
The United States is hosting the Summit of the Americas 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, prompting the president of Mexico not to attend the event.
Source: CNN Brasil
