Charting A New Course: The Americas Act Unveiled

On March 6, 2024, a bipartisan and bicameral group of members of Congress introduced the "Americas Trade and Investment Act" or "Americas Act" (S.3878/H.R.7571). The Americas Act reimagines U.S. foreign and economic policy towards Latin America and the Caribbean by taking a more comprehensive approach to the hemisphere. The bill aims to "establish a regional trade, investment, and people-to-people partnership of countries in the Western Hemisphere to stimulate growth and integration through viable long-term private sector development." Specifically, the bill proposes expanding the United States-Mexico-Canada Agreement (USMCA) and undertaking tariff reforms to promote investment and economic development across the hemisphere.