United States Plans to Relocate Factories from Asia to Latin America
This project could generate investments ranging from 30 to 50 billion dollars across the continent.
By: José Gregorio Martínez
The campaign slogan “Make America Great Again” could soon go beyond the borders of the United States. The Trump administration has announced that it is preparing a financial incentive plan to encourage U.S. companies with factories in Asia to return to the Americas, including Latin America and the Caribbean.
“We are essentially creating a ‘Back to the Americas’ initiative,” said Mauricio Claver-Carone, the White House national security advisor for Latin America and an aspiring president of the Inter-American Development Bank (IDB).
This project could generate investments ranging from 30 to 50 billion USD across the continent. Although Claver-Carone did not name any particular company, he said that talks had already begun, but the pandemic helped convince them that it was time to get on board.
Infrastructure, energy, and transport could be the first potential focus areas for this initiative. In this way, the United States seeks to gain ground in Latin America, where China has been positioning itself since 2015 with large investments and loans of over 40 billion USD, according to the Inter-American Dialogue.