FOR IMMEDIATE RELEASE
Rep. Green Re-Introduces Nearshoring Bill
WASHINGTON– Today, Rep. Mark Green, Chairman of the House Homeland Security Committee, re-introduced the Western Hemisphere Nearshoring Act in the 118th Congress. Last year, Rep. Green worked alongside House Foreign Affairs Committee Members to craft the important bipartisan legislation to reduce the strain of migration on U.S. borders while preventing Chinese Communist Party (CCP) influence in the Western Hemisphere.
“China is our chief strategic competitor that seeks to create an international order led by, and for, the ruling elites of the Chinese Communist Party. In response to the economic challenge of China’s manufacturing dominance, one policy that has been gaining traction is nearshoring—relocating supply chains and business operations within a nearby region instead of halfway around the globe,” said Green.
Green continued, “This bipartisan legislation is a threefold win. First, it makes the United States less dependent on Chinese manufacturing. Second, Latin America is provided with economic growth and jobs without a penny of taxpayer dollars. And lastly, as opportunities increase in the Latin America-Caribbean region, the nearshoring of manufacturing will decrease migration to our southern border. I’m convinced that Latin America, in friendly partnership with the United States, has untapped potential to become an economic powerhouse by leveraging their comparative advantages in manufacturing. Nearshoring could provide the opportunity to bring back supply chains from China, attract foreign investment, and create stable jobs for millions of people.”
The bill would also create a low-interest loan program through the International Development Finance Corporation, with financing provided by existing tariffs on Chinese goods to provide an incentive for companies to relocate their factories from China to Latin America. Paid for by China, not American taxpayers.
Read the bill text here.
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This is a companion discussion topic for the original entry at https://markgreen.house.gov/press-releases?ID=5029DDCC-CF14-4CF5-B05E-201F2B243564