First State Times

WASHINGTON – U.S. Senators Chris Coons (D-Del.), Bob Menendez (D-N.J.), Todd Young (R-Ind.), Tim Kaine (D-Va.), and Bill Hagerty (R-Tenn.) introduced a resolution calling for greater support for nearshoring and reshoring initiatives to relocate global supply chains to the United States and partner countries in the Western Hemisphere.

“Strengthening economic ties between the United States and our partners in Latin America and the Caribbean promotes regional strength, security and prosperity,” said Senator Coons. “This resolution reflects a bipartisan commitment to these partnerships and a shared belief in the importance of increasing investment throughout the Western Hemisphere.”

The resolution recognizes the opportunity for the United States to work alongside its neighbors to increase supply chain resiliency and security and contribute to the post-pandemic economic recovery of Latin America and the Caribbean. The resolution also expresses support for U.S. coordination with the Inter-American Development Bank, regional governments, and the private sector to attract foreign direct investment to the Western Hemisphere and facilitate regional economic integration. It also calls for efforts to address ongoing barriers to nearshoring in Latin America and the Caribbean, including underdeveloped physical and digital infrastructure, concerns about the rule of law in several countries, and the need for greater compliance with international labor and environmental standards. 

Senator Coons is Chair of the Senate Appropriations Committee’s State and Foreign Operations Subcommittee and a member of the Senate Foreign Relations Committee.

Original source can be found here.