WASHINGTON/BUENOS AIRES - The Trump administration is readying a new initiative that would use financial incentives to encourage US firms to move production facilities out of Asia and into the United States, Latin America and the Caribbean, a senior White House adviser said on Wednesday .
He gave no details about the scope of possible incentives, but pointed to the administration's use of a US$765 million loan to encourage Eastman Kodak to produce pharmaceutical ingredients in the United States to help fight the coronavirus pandemic. Claver-Carone said the administration had already been working with countries in Latin America and the Caribbean to help them attract US investors, but the pandemic helped convince US companies it was time to get on board. He did not name any companies.
Claver-Carone also said there needed to be an improvement in transparency over Chinese lending in Latin America. The United States wants to"collaborate" with China to ensure its lending practices in the region are more transparent, said Claver-Carone, echoing a push by the World Bank.If he wins a September election, Claver-Carone would be the first US candidate to head the Washington-based Inter-American Development Bank , Latin America's principal development finance institution.
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