Bill > HR722

This bill aims to decrease the United States' dependency on manufacturing in the People's Republic of China and reduce migration to the U.S. by increasing economic opportunities in Latin America and the Caribbean. The key provisions include: 1. Directing the United States International Development Finance Corporation (DFC) to use at least 10% of its funding to finance the moving and workforce development costs of companies relocating from China to Latin America or the Caribbean, and provide them with lower interest rate loans. 2. Allowing the President to provide duty-free or preferential treatment for goods and services produced by these companies in Latin America or the Caribbean for 15 years. 3. Imposing conditions on receiving this assistance, such as creating a certain number of jobs, not being owned or controlled by China or other adversaries, and relocating assets within 2 years. 4. Establishing a trust fund using tariffs collected on goods from China to cover the revenue loss from the assistance provided. 5. Authorizing the U.S. Trade Representative to negotiate new free trade agreements with Latin American and Caribbean countries that are taking steps to reduce migration and economic dependence on China. 6. Allowing the President to negotiate nuclear energy cooperation agreements with these countries or qualified companies to enable sales of nuclear reactors. 7. Providing temporary increased expensing for companies that relocate manufacturing from China to Latin America or the Caribbean.