Central Louisiana News

The Financial Times Editorial Board has endorsed the Americas Act, a piece of legislation introduced by U.S. Senators Bill Cassidy, M.D. (R-LA) and Michael Bennet (D-CO), along with U.S. Representatives Maria Salazar (R-FL-27) and Adriano Espaillat (D-NY-13). The Americas Act aims to establish a permanent trade partnership among Western Hemisphere countries to counter China's increasing influence over global manufacturing and geopolitics. The Editorial Board highlighted the potential of the Americas Act, stating, "The Americas Act would put muscle into the Biden administration’s hitherto flabby economic partnership initiatives."

The Editorial Board emphasized that the Americas Act could pave the way for Latin American nations to join the US-Mexico-Canada free trade agreement and expand concessional lending from the U.S. to promote the nearshoring of production from China. Additionally, the bill includes provisions for a biennial presidential summit to monitor progress in the region.

In a call to action, the Editorial Board urged Congressional leaders to prioritize the Americas Act, stating, "Congressional leaders should get it passed. If the US misses the opportunity in Latin America, China certainly will not."

The background of the Americas Act underscores the strategic importance of Latin America in the global economic landscape. With China's increasing presence in the region, there is a growing recognition of the need for the U.S. to strengthen its economic ties with Latin American nations. The Americas Act presents a bipartisan effort to enhance trade and investment in the region, with a focus on promoting democracy, trade, and the rule of law.

The endorsement of the Americas Act by the Financial Times Editorial Board signals a significant step towards addressing China's influence in Latin America and advancing U.S. interests in the region. As the Editorial Board noted, the Americas Act represents an opportunity for the U.S. to compete effectively with China in Latin America and ensure a more robust economic partnership with countries in the Western Hemisphere.