The Biden administration Friday said it would begin negotiations with 11 mostly Latin American nations on an agreement designed to promote regional economic cooperation without offering greater access to the U.S. market for their goods.
. A total of 21 Latin countries — including eight APEP members — participate in Beijing’s global infrastructure investment program known as the belt-and-road initiative.The United States already has trade agreements with nine of the countries that have agreed to participate in the initial APEP negotiations. The APEP group includes Barbados, Canada, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, Mexico, Panama, Peru and Uruguay.
“We’re going to move very quickly,” said an administration official who insisted on anonymity to brief reporters before the official announcement. “Of course, we are happy to participate,” said a senior official from a participating nation. “But it’s an invitation to talk. There’s no proposal, for example if you compare it to … when trade treaties were negotiated. This is much more modest and limited.”
After the talks collapsed in failure, the United States turned to negotiating smaller deals with countries such as Colombia.In a recent appearance at CSIS, Jose Fernandez, the undersecretary of state for economic growth, energy and environment, defended the Biden administration’s approach to trade deals.
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