President Biden Announces Initiative for America’s Economic Prosperity Partnership
Including national support for revitalizing investment in Latin America and resolving immigrants
Expanding market access, such as lowering U.S. tariffs, should not be included.
Central and South American heads of state do not attend the US summit in succession
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[앵커]
Following the Indo-Pacific Economic Framework, the United States has presented an initiative to strengthen relations with Latin American countries.
It is a stepping stone to curb the expansion of China’s influence not only in Asia but also in Latin America, which is the front yard.
Correspondent Lee Jong-soo.
[기자]
U.S. President Joe Biden announced the ‘America Economic Prosperity Partnership’ APEP initiative to strengthen relations with Latin American countries at the Americas Summit.
[조 바이든 / 미국 대통령 : 민주주의가 세계적으로 공격받는 오늘 우리가 다시 만났습니다. 다시 단결합시다.]
This initiative is the Latin American version of the Indo-Pacific Economic Framework, IPEF, launched during President Biden’s Asian tour last month.
The agenda to be addressed is also similar to that of the IPEF: the pursuit of standards in the digital economy, support for emerging technologies, the resilience of energy and food supplies, and strong labor and environmental standards under the larger themes of supply chain strengthening, innovation and climate change.
APEP also included a plan to support Latin America through the Inter-American Development Bank, etc. to stimulate investment in Latin America and help solve the problem of immigrants, which is the US’s thorny problem.
The White House previously prepared the ‘American Health and Resilience Action Plan’ to strengthen the response system to COVID-19, including technical support for 500,000 medical personnel in Latin America.
However, like the IPEF, APEP is pointed out as a weakness because it does not include the expansion of market access such as the US tariff cut.
Here, it is being evaluated that the United States has lost face because the heads of many Latin American countries did not attend this summit.
When the leaders of Cuba, Nicaragua, and Venezuela were excluded from the invitation because they were dictators, the Mexican president did not participate in protest, and the leaders of Guatemala and Honduras did not appear.
A senior U.S. official said the best solution to China’s intrusion would be “to advance our vision” and that negotiations would begin in early fall, while not hiding the launch of the partnership is a Chinese encirclement.
This is YTN Lee Jong-soo.
YTN Jongsoo Lee (jslee@ytn.co.kr)
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