Biden To Announce "Americas Partnership for Economic Prosperity"

President Biden will announce the "Americas Partnership for Economic Prosperity" today at the opening ceremony of the Summit of the Americas. The White House describes the partnership as an “historic agreement to drive recovery and growth.”

• The White House readout claims that: “The Americas Partnership for Economic Prosperity will rebuild our economies from the bottom up…pivot our public institutions... strengthen our supply chains… foster innovation in both the public and private sectors… tackle the climate crisis... and update the Basic Bargain.”
• The Biden administration describes the “The overall objective is to build our economies from the bottom up and the middle out by building on the foundation established by our free trade agreements with the region to better address the inequality and lack of economic opportunity and equity.”
• The proposal is already receiving similar criticisms to those levelled against Biden’s Indo Pacific Economic Framework – it isn’t expected to lower tariffs or provide specific market incentives.
• Politico: “The president’s proposals, which mirror its approach to economic engagement in other regions of the world, are unlikely to satisfy the desire among Latin American countries for more trade access in the U.S. — and, among those that already have free trade agreements, for more economic engagement and investment, writ large.”
• The White House factsheet can be read here: https://www.whitehouse.gov/briefing-room/statement...