Support for Companies Relocating Manufacturing from China to Latin America and Caribbean
This act aims to reduce dependency on Chinese manufacturing and decrease migration by creating new economic opportunities in Latin America and the Caribbean. Citizens may experience indirect benefits from greater economic stability in the region and potentially lower prices for some goods due to closer supply chains. American companies may gain new investment opportunities, and consumers access to products from the region.
Key points
Companies relocating manufacturing from China to Latin America or the Caribbean may receive financial support, including lower interest rates on loans and coverage of relocation costs.
Products made by these companies in Latin America or the Caribbean may receive duty-free treatment for 15 years, potentially lowering their prices for consumers.
The act aims to create jobs in Latin American and Caribbean countries, which could contribute to regional stability and reduce migratory pressures.
Tax law changes are introduced, allowing companies to more quickly deduct costs associated with relocating manufacturing, encouraging such moves.
Expired
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