New legislation could silence China's Belt and Road project: "we can silence China's siren song"

The Monroe Doctrine is being revived through President-elect Donald Trump's plan to seize control of the Panama Canal and Rep. Mark Green's legislation to boost investment in Latin America.

On Friday, the Homeland Security chairman and Tennessee Republican introduced two bills: one proposing the use of tariffs to establish a low-interest loan program for companies to move from China to Latin America.

To offset moving costs for U.S. companies to bring their operations back to U.S. soil, another option would be to use the tariffs collected on Chinese goods as a tax incentive.

The Western Hemisphere Nearshoring Act would create a program through the International Development Finance Corporation to reduce interest rates using tariff funds.

The Bring American Companies Home Act would enable tax deductions for expenses incurred to relocate inventory, equipment, or supplies from China to the U.S. The program would be financed through a trust fund created from tariffs collected.

Green stated on Planet Chronicle Digital that Communist China's harmful impact is spreading in the Western Hemisphere. It is crucial for us to take action. By revitalizing infrastructure and creating jobs in this area, we can counteract China's alluring message.

Although the US has traditionally invested heavily in Latin America and the Caribbean, China has emerged as South America's largest trading partner and benefactor. Through its Belt and Road initiative, China is increasingly asserting its influence with grants and loans across the continent. In November, China unveiled a massive port in Peru.

Western lawmakers are considering reshoring supply chains from China and reestablishing dominance in the region through trade partnerships across the Americas.

Kamala Harris, as Vice President, focused on addressing the "root causes" of immigration by trying to attract investment to Latin America to enhance the living conditions of locals, thereby discouraging them from making the perilous journey to the U.S. border.

Trump has indicated that he will prioritize the western hemisphere, as per the Monroe Doctrine of 1823, by advocating for the U.S. to regain control of the Panama Canal.

In recent weeks, Trump has maintained that China is managing the canal and accused Panama of defrauding the U.S.

"Trump stated, "The Panama Canal is crucial to our nation, yet it is being managed by China. We gave the canal to Panama, not China, and they have misused this gift.""

The canal is heavily used by China, which is the second-largest user after the U.S. Additionally, China is a significant investor in the country. Two of the canal's ports of entry are owned by a subsidiary of a Hong Kong-based company, CK Hutchison. Furthermore, Beijing financed a new bridge over the waterway.