U.S. President Joe Biden opened the three-day Summit of the Americas in Los Angeles with a new economic plan and a promise to re-engage countries in the Western Hemisphere… that is, friendly countries in the Western Hemisphere.
The White House also unveiled the “Americas Partnership for Economic Prosperity,” a similar initiative to the Indo-Pacific Economic Framework the President announced last month in Asia. But just as with the Asian proposal, this is not a trade pact, does not offer any tariff relief, and has no preferential market access.
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