At Americas summit, Biden pledges alternative to Chinese-led infrastructure, loans

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At Americas summit, Biden pledges alternative to Chinese-led infrastructure, loans
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President Biden welcomed leaders from countries across the Americas to an economic summit Friday, pledging to increase U.S. investment in the region.

President Biden on Friday welcomed government leaders from countries across the Americas to an economic summit by pledging to increase U.S. investment in the region in part to counter China's influence. The U.S. president did not specifically mention China in his opening remarks at the first Americas Partnership for Economic Prosperity Leaders’ Summit.

But after the coronavirus pandemic disrupted manufacturing and global shipping, the U.S. also has made an effort to diversify trade and reduce dependence on Chinese manufacturing. In 2022, the U.S. exported $1.2-trillion worth of goods and services to other countries in the Western Hemisphere, according to the U.S. Trade Representative. It also imported $1.2-trillion in goods and services from those countries. But the majority of that trade was with Canada and Mexico. By contrast, the U.S.

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