U.S. Rep. Adriano Espaillat (D-N.Y.) said "The Americas Act is self-funding' when talking about the bill that would establish a lasting trade partnership among Western Hemisphere countries. The Americas Act, aimed at countering China's influence with the de minimis loophole, is co-sponsored by U.S. Reps. María Elvira Salazar (R-Fla.) and Mike Gallagher (R-Wis.) and Sens. Bill Cassidy (R-La.) and Michael Bennet (D-Colo.).
"The Americas Act is self-funding, by enacting trade reciprocity and closing our ‘de minimis' trade loophole with China, which has caused so much job loss and pain," said Adriano Espaillat, U.S. Democrat Rep from New York, according to X.
The Americas Act would unite western countries through trade and investment, while countering China's attempt to dominate and control global trade, according to a press release from Salazar's office. “This bill will create world-class business opportunities and jobs in Miami, help our allies in Latin America, build resiliency for American supply chains, and combat China’s influence," Salazar said.
Screenshot of post on X
| https://twitter.com/RepEspaillat/status/1765391382963786189?s=20
According to the press release, Miami is a crucial hub for U.S.-Latin American trade and stands to benefit from the Americas Act. The bill, designed to enhance job creation and investment across the Western Hemisphere, particularly in Miami, highlights the importance of democratic values and supply chain resilience. With over 60 million Americans of Hispanic descent, the bill seeks to bolster partnerships and prosperity in the region, signaling a significant shift in U.S. foreign policy priorities.
According to the Federal Newswire, Gallagher expressed concern over the 'de minimis' loophole that brings a surge in tax-free imports into the U.S., noting how this benefits Chinese companies exploiting Uyghur forced labor and potentially forcing American firms to move jobs to China. With over 485 million tax-free shipments entering the U.S. in FY24 and 94% of import transactions utilizing the de minimis rule, Gallagher highlighted the challenges Customs and Border Protection faces in tracking illicit shipments. Shein and Temu were identified as companies taking advantage of this loophole, with a report suggesting their substantial growth due to Uyghur forced labor exploitation.
Espaillat represents New York’s 13th Congressional District. Espaillat is the first Dominican American to serve in the U.S. House of Representatives, according to his website, according to his website.
