Western Hemisphere Nearshoring Act

This bill helps American companies move their operations from China to Latin American and Caribbean countries. The U.S. International Development Finance Corporation must use at least 10% of its money to pay for moving costs, worker training, and building facilities for these relocations. Money from tariffs on Chinese goods will fund this help. Companies that get this assistance and move to Latin American or Caribbean countries will receive special trade benefits like reduced tariffs on their products. To qualify, companies must create enough jobs in the new country and promise they won't be controlled by China, Russia, or other adversary governments. The bill also requires U.S. trade officials to start trade negotiations with Latin American and Caribbean countries that don't already have trade deals with America, and allows the President to negotiate sales of nuclear reactors to these countries if certain conditions are met.

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