At the Summit of the Americas on Fri., Pres. Biden rolled out the Los Angeles Declaration on Migration and Protection, a deal aimed at tackling the region's migration crisis. Adherent countries have committed to welcoming a specific number of economic migrants and refugees.
This comes as he sought on Thurs. to establish common goals on controversial issues and promoted several opportunities in Latin America for CEOs.
The Biden admin. is taking steps to strengthen the unity in the Western hemisphere by focusing on security, economic growth, and shared democratic values to woo Latin America away from China. Initiatives to revitalize regional economic institutions and enhance the resilience of supply chains show the US's commitment to an ambitious vision for the region.
These measures are unlikely to help the US in countering China's growing influence in Latin America. While trade incentives such as tariff reductions would be an appealing proposal for the region, they wouldn't be approved by the US, as the Biden admin. hasn't reversed Trump-era protectionism.