New set of laws would counter CCP’s Belt and Road initiative: ‘we can silence China’s siren song’
FIRST ON FOX: The Monroe Doctrine is back in full swing – both with the President-elect Donald Trump a push to take over the Panama Canal and Rep. Mark Green’s new bill to encourage investment in Latin America.
The homeland security chairman and the Tennessee Republican introduced a pair of bills Friday — one to use the tariffs to create a low-interest loan program for companies to relocate from China to Latin America.
Another would use tariffs collected on Chinese goods to offer tax incentives to offset relocation costs for American companies to bring their operations back to US soil.
The Western Hemisphere Rapprochement Act would introduce a program through the International Development Finance Corporation to lower interest rates with tariff money.
‘SAFER, STRONGER AND FREER’: BORDER SECURITY WAS A BIG POINT IN NOEM’S OPENING SPEECH TO THE SENATE
Under the American Business Repatriation Act, amounts paid to move inventory, equipment, or supplies used in a trade or business from China in the US it would be allowed as a tax deduction. The program would be financed through the foundation of collected tariffs.
“The malign influence of Communist China continues to spread across the Western Hemisphere. It’s time to take a stand. By rebuilding infrastructure and manufacturing jobs in this region, we can silence China’s siren song,” Green told Fox News Digital.
Speaker Mark Green, R-Tenn., holds a news conference ahead of a House Homeland Security Committee hearing on the “Dereliction of Duty Inquiry into Secretary Mayorkas,” in the Cannon Building on Wednesday, June 14, 2023. (Tom Williams/CQ-Roll Call, Inc via Getty Images)
The US has long invested heavily in Latin America and the Caribbean, but China is South America’s largest trading partner and benefactor. As part of its The Belt and Road Initiativeis increasingly flexing its muscles with grants and loans across the continent. China unveiled a megaport in Peru in November.
Lawmakers began proposing ideas to “reroute” supply chains away from China and re-establish hegemony in the Western Hemisphere with trade partnerships across the Americas.
CHINA ATTACKED US WITH HACKERS. WE HAVE TO FIGHT BACK STRONGLY
vice president Kamala Harris, chosen to lead the border response, focused on the “root causes” of immigration by trying to bring investment to Latin America to improve conditions for local residents so they don’t make the perilous journey to the US border.
A cargo ship passes the Agua Clara Locks of the Panama Canal in Colon, Panama, on September 2, 2024. (AP Photo/Matias Delacroix, File)
Trump has signaled that he will re-prioritize the Western Hemisphere, a priority that dates back to the Monroe Doctrine of 1823, by calling for the US to restore the Panama Canal.
Over the past few weeks, Trump has insisted that China controls the canal and that Panama “hijacks” the USA
“Look, the Panama Canal is vital to our country,” Trump said. “It’s run by China – China! – and we gave them the Panama Canal Panamawe did not give it to China. They abused that gift.”
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
China is the second largest user of the channel after the US and a major investor in the country. The canal’s two ports of entry are owned by a subsidiary of the Hong Kong-based company, CK Hutchison. Beijing also helped finance a new bridge across the waterway.
