First on Fox: The Monroe Doctrine is back at its peak – both with the president-elect Donald Trump Pressure for takeover of the Panama Canal and new legislation from Rep. Mark Green to encourage investment in Latin America.
The head of the Department of Homeland Security and a Republican from Tennessee introduced two bills on Friday — one to use tariffs to create a low-interest loan program for businesses to move from China to China. latin america.
Another method uses tariffs collected on Chinese goods to provide a tax incentive to offset transportation costs for American companies to bring their operations back to American soil.
The Western Hemisphere Convergence Act would create a program through the International Development Finance Corporation to buy interest rates with tariff money.
Under the U.S. Business Repatriation Act, amounts paid to transfer inventory, equipment, or supplies used in a trade or business From China To the United States as a tax deduction. The program will be funded through a pooled tariff trust fund.
“Communist China's malignant influence continues to spread throughout the Western Hemisphere. It is time for us to take a stand. By rebuilding infrastructure and manufacturing jobs in this region, we can silence China's siren,” Green told Fox News Digital.
Chairman Mark Green, R-Tenn., holds a press conference ahead of a House Homeland Security Committee hearing to “examine Secretary Mayorkas' dereliction of duty” at the Cannon Building on Wednesday, June 14, 2023. (Tom Williams/CQ-Roll Call, Inc via Getty Images)
The United States has long invested heavily in Latin America and the Caribbean, but China is South America's largest trading partner. As part of it Belt and Road InitiativeIt is increasingly flexing its muscles through grants and loans across the continent. In November, China unveiled a huge port in Peru.
Lawmakers have begun tossing out ideas to “reshut” supply chains from China and reassert dominance in the Western Hemisphere through trade partnerships throughout the Americas.
China attacked us with hackers. We need to respond strongly
Vice President kamala harris, Appointed to lead the border response, he focused on the “root causes” of migration by trying to bring investment to Latin America to improve conditions for local residents so they don't make the dangerous journey to the U.S. border.
A cargo ship passes the Agua Clara locks in the Panama Canal in Colon, Panama, September 2, 2024. (AP Photo/Mathias Delacroix, File)
Trump has signaled that he will rearrange the Western Hemisphere's priorities, a priority dating back to the Monroe Doctrine in 1823, through calls for the United States to restore the Panama Canal.
Over the past few weeks, Trump has insisted that China is in control of the canal Panama is “stealing” the United States
“Look, the Panama Canal is vital to our country,” Trump said. “It's run by China—China!—and we gave it the Panama Canal PanamaWe did not give it to China. “They have abused this gift.”
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China is the second largest user of the canal after the United States and a major investor in the country. Two of the canal's ports of entry are owned by a Hong Kong-based subsidiary of CK Hutchison. Beijing also helped fund a new bridge over the waterway.
