Taking the Americas Partnership for Economic Prosperity as an ‘Opening Bid’ to Go Bigger
June 29, 2022
Daniel F. Runde et al.
At the Summit of Americas on June 8, President Biden announced the new Americas Partnership for Economic Prosperity (APEP), an economic initiative for Latin America. APEP is the answer to the question administration officials posed for themselves: If the United States wants to engage with the region and is not prepared to spend political capital on free trade deals, what can it offer?
The partnership framework consists of five thematic pillars: (1) reinvigorating regional economic institutions and mobilizing investment, (2) making more resilient supply chains, (3) updating the basic bargain, (4) creating clean energy jobs and advancing decarbonization and biodiversity, and (5) ensuring sustainable and inclusive trade. APEP, like the administration’s sister plan, the Indo-Pacific Economic Framework (IPEF), envisions few concrete plans for trade liberalization.
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