US Senators Warn Biden: Help LATAM or They’ll Turn to China

Democratic senators urged the Biden administration to enhance its relationship with Latin American countries, warning that, otherwise, they might cozy up to China.

At a recent meeting of the Senate Foreign Relations Committee, senators expressed concern about China’s growing influence in Latin America, pointing to the Asian giant’s race to sign more free trade deals and launch a “belt and road” initiative across the region.

As many as 21 governments in Latin America and the Caribbean have signed up to China’s “belt and road” initiative, which entails a huge investment.

While U.S. policymakers face opposition at home to increased market access demanded by Latin American governments, the same isn't true for China. China's trade with Latin America surged from $12 billion in 2000 to $495 billion in 2022, a 41-fold increasehttps://t.co/ZuyPIlNGd8

— The China-Global South Project (@ChinaGSProject) May 25, 2023

“We’ve got to have something on the table to counter it,” said Senator Tim Kaine (D-VA).

Kaine cited the recent visit of Ecuadorian President Guillermo Lasso, who “literally begged” for a few minutes to talk with President Joe Biden to pose the possibility of an FTA bewteen both countris. However, Lasso’s request was denied.

The White House also rejected Argentina’s request to broker renegotiations of its sovereign debt with the International Monetary Fund. Argentina turned to Beijing in response, being granted access to a US$10 billion swap line.

Senators argued that the US is losing out on opportunities to partner with Latin American countries because it attaches too many strings to its deals. China, on the other hand, is more willing to make mutually beneficial pacts.