New set of bills would counter CCP’s Belt and Road initiative: ‘we can mute China’s siren song’
The Monroe Doctrine is making a comeback in American politics, as President-elect Donald Trump pushes for a takeover of the Panama Canal and Rep. Mark Green introduces new legislation to encourage investment in Latin America. Green, a Homeland Security chairman and Tennessee Republican, recently proposed two bills aimed at reshaping trade relationships in the Western Hemisphere.
One bill would use tariffs to create a low-interest loan program for companies looking to relocate from China to Latin America. Another bill would offer tax incentives to offset moving costs for U.S. companies bringing their operations back to the United States. The Western Hemisphere Nearshoring Act, part of Green’s proposal, would use tariff money to buy down interest rates through the International Development Finance Corporation.
Under the Bring American Companies Home Act, deductions would be allowed for amounts paid to move inventory, equipment, or supplies from China to the U.S. This program would be funded through a trust fund of tariffs collected. Green emphasized the need to counter China’s influence in the region by rebuilding infrastructure and manufacturing jobs in Latin America.
China has become a significant player in South America, with the Belt and Road initiative expanding its economic reach across the continent. Lawmakers are now exploring ways to bring supply chains back from China and strengthen trade partnerships in the Americas. Vice President Kamala Harris has also focused on addressing the root causes of immigration by promoting investment in Latin America to improve living conditions and reduce migration to the U.S. border.
President Trump has called for a renewed focus on the Western Hemisphere, particularly through efforts to reclaim control of the Panama Canal. Trump has criticized China’s involvement in the canal, accusing Panama of allowing China to take advantage of the situation. China is a major user and investor in the canal, with two ports of entry owned by a Hong Kong-based company and Chinese financing for infrastructure projects in the region.
The push to reshape trade relationships in the Western Hemisphere reflects a broader effort to assert American influence and counter China’s growing presence in the region. By incentivizing companies to relocate to Latin America or bring operations back to the U.S., lawmakers hope to strengthen economic ties and promote stability in the region. The Monroe Doctrine, first established in 1823, continues to shape U.S. foreign policy in the Americas, guiding efforts to promote prosperity and security in the region.
