legislators of USA they proposed to Uruguay as a “pilot country” to join the UMSCA (exNafta), the FTA regional that they maintain with Canada and Mexico, in a gesture that could boost the relationship between both countries.
The initiative was presented by senators and representatives, both Republicans and Democrats. If implemented, the measure would be in effect from 2026 and would also include accession to the system of trade preferences for countries of the Caribbean, as well as the exemption of visas for Uruguayans.
The project, titled Law of the Americas (AmericasAct), bears the signatures of the representatives Maria Elvira Salazar (republican) and Adriano Espaillat (Democratic), as well as that of the senators Bill Cassidy (republican) and Michael Bennett (democrat). In addition, the Republican representative joined as co-sponsor Mike Gallagher chairman of the House Select Committee on the Chinese Communist Party.
This standard proposes “to create a permanent and constantly expanding trade association between the countries of the Western Hemisphere and counteract the increasing control of China about global manufacturing and geopolitics,” Salazar highlighted.
The law seeks to stimulate trade
The legislator highlighted that the initiative “unites the democracies of our Hemisphere through trade, investment and a shared commitment to free enterprise” and maintained that “it will create jobs, grow the US economy and bring prosperity to Latin America and the Caribbean”.
“It is time for us to unleash the full economic potential of USA and Latin America. The Law of the Americas is the solution to grow our economy and bring stability to the hemisphere,” said the representative, while maintaining that the measure “will combat the influence of China”.
Espaillat, meanwhile, stated that “in essence, the Law of the Americas is a multimillion-dollar job creation tool for USA and its allies in Latin America and the Caribbean”.
“With its relocation and near relocation loans, tax benefits and other subsidies specific to workers at home and in our partner countries in the Western Hemisphere, the Americas Act will return jobs and investments to our hemisphere and will stop the root causes of migration by putting more money in the pockets of working families,” he noted.
United States, with its sights set on China
“We need to re-level the playing field between freedom-loving democracies and those that exploit the rules, such as China. We do this by refocusing on the Western Hemisphere to improve trade, bring manufacturing back to our shores and end China’s growing influence,” he said. Cassidy.
And he insisted: “Our Law of the Americas will make the economies of the entire hemisphere more resilient, governments more stable, and our hemisphere more prosperous.”
To its turn, Bennett maintained that “no region has greater ties with USA than the Western Hemisphere.” “However, in recent years we have failed to offer the region a compelling economic alternative to China’s growing influence,” he warned.
And he noted: “This bill changes that. Create an opportunity for USA renew our partnerships in Latin America and the Caribbean, strengthen the rule of law, deepen economic prosperity and embrace our values in a shared fight for democracy.”
Source: Ambito
