I
119THCONGRESS
1
STSESSION H. R. 509
To decrease dependency on People’s Republic of China manufacturing and
decrease migration due to lost regional economic opportunities.
IN THE HOUSE OF REPRESENTATIVES
JANUARY16, 2025
Mr. G
REENof Tennessee introduced the following bill; which was referred to
the Committee on Ways and Means, and in addition to the Committee
on Foreign Affairs, for a period to be subsequently determined by the
Speaker, in each case for consideration of such provisions as fall within
the jurisdiction of the committee concerned
A BILL
To decrease dependency on People’s Republic of China manu-
facturing and decrease migration due to lost regional
economic opportunities.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Western Hemisphere 4
Nearshoring Act’’. 5
SEC. 2. FINDINGS. 6
Congress finds the following: 7
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(1) Our neighbors in the Western Hemisphere 1
play a vital role in ensuring peace, security, and de-2
mocracy. 3
(2) Instability and lack of economic opportuni-4
ties in the region are major drivers of migration in 5
violation of the Immigration and Nationality Act. 6
(3) According to the United States Census Bu-7
reau, in 2021 the United States exported $174.62 8
billion worth of goods to Central and South America, 9
and imported $121 billion. 10
(4) The United States is a net exporter with 11
Central and South America. 12
(5) Economic growth and development of the 13
Western Hemisphere brings essential strength and 14
stability to the region. 15
(6) There is significant opportunity to expand 16
the free flow of goods and services in the Western 17
Hemisphere. 18
(7) Closer relations among the Americas 19
through free trade agreements and trade liberaliza-20
tion would encourage further economic development 21
and stability in the region. 22
(8) The United States should exercise its influ-23
ence to encourage privatization, free markets, and 24
economic cooperation in the region. 25
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(9) Countries in the region should combat cor-1
ruption, strengthen the rule of law, reduce bureau-2
cratic red tape, streamline permitting, and embrace 3
free market principles to encourage further private 4
sector investment. 5
(10) With cooperation from the United States, 6
regional countries must take serious steps to curb 7
migration in violation of the Immigration and Na-8
tionality Act. 9
(11) The Western Hemisphere has supply 10
chains that are vulnerable due to their over depend-11
ence on the People’s Republic of China. 12
(12) Free trade and expanded commercial ties 13
between the United States and Western Hemisphere 14
partners will foster economic and commercial co-15
operation, increase investment opportunities, de-16
crease migration in violation of the Immigration and 17
Nationality Act, reduce our dependence on the Peo-18
ple’s Republic of China, and create jobs for Amer-19
ican workers. 20
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SEC. 3. USE OF UNITED STATES INTERNATIONAL DEVELOP-1
MENT FINANCE CORPORATION FUNDS TO FI-2
NANCE MOVING EXPENSES AND NECESSARY 3
WORKFORCE DEVELOPMENT COSTS IN-4
CURRED BY COMPANIES MOVING FROM THE 5
PEOPLE’S REPUBLIC OF CHINA TO LATIN 6
AMERICA OR THE CARIBBEAN. 7
(a) U
SE OFFUNDS.— 8
(1) I
N GENERAL.—The United States Inter-9
national Development Finance Corporation, in co-10
ordination with relevant Federal agencies (including 11
the United States Trade and Development Agency, 12
the Export-Import Bank of the United States, the 13
United States Army Corps of Engineers, and the 14
United States Agency for International Develop-15
ment) and the United States Executive Directors of 16
relevant international financial institutions (includ-17
ing the World Bank Group, the Inter-American De-18
velopment Bank, and the International Monetary 19
Fund), shall use not less than 10 percent of the 20
amounts made available to provide financing under 21
section 1421 of the Better Utilization of Investments 22
Leading to Development Act of 2018 (22 U.S.C. 23
9621) for each fiscal year beginning after the date 24
of the enactment of this Act to finance the qualified 25
moving costs and necessary workforce development 26
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costs of, and reduce the interest rate on any loan to 1
be provided by the DFC to the interest rate de-2
scribed in paragraph (3) to, any qualified corpora-3
tion that is eligible for, or a recipient of, assistance 4
from the DFC, to the extent of qualifying applica-5
tions for assistance under this section. 6
(2) A
VAILABILITY OF UNUSED AMOUNTS .—If 7
the DFC does not use the entire amount described 8
in paragraph (1) for a fiscal year described in such 9
paragraph, such amount shall, to the maximum ex-10
tent practicable, be made available to the DFC for 11
the next fiscal year to carry out this section or other 12
DFC programs for Latin American or Caribbean 13
countries. 14
(3) I
NTEREST RATE DESCRIBED .—The interest 15
rate described in this paragraph is— 16
(A) the Federal funds rate; or 17
(B) the interest rate that is determined by 18
reducing by not less than
1
⁄2of 1 percent and 19
not more than 1 percent (but to not less than 20
zero percent) the interest rate on the loan to be 21
provided by the DFC to the qualified corpora-22
tion, 23
whichever is the lesser. 24
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(b) NONEGATIVEEFFECTS ONEMPLOYMENT IN 1
THEUNITEDSTATES.—The DFC shall not provide assist-2
ance under this section unless the Secretary of Commerce 3
has determined that the provision of the assistance would 4
not result in a negative effect on employment in the 5
United States. 6
(c) D
ISPOSITION OFUNUSEDASSISTANCE.—A cor-7
poration to which financing is made under this section 8
shall remit to the DFC any portion of the assistance that 9
is not expended within a period of time after the date the 10
financing is made that is determined by the DFC on a 11
case-by-case basis. 12
(d) C
ONDITIONS ON PROVISION OFLOANS.—The 13
DFC— 14
(1) may provide loans under this section to a 15
corporation only if the loans are commercially viable, 16
as determined by the DFC; and 17
(2) shall determine an appropriate amount of 18
time for repayment of loans under this section to a 19
corporation. 20
(e) P
LAN.—Not later than 180 days after the date 21
of the enactment of this Act, the DFC shall develop and 22
submit to the Committee on Foreign Affairs of the House 23
of Representatives and the Committee on Foreign Rela-24
tions of the Senate a plan to streamline the provision of 25
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assistance under this section, including to expedite the ap-1
proval process for the provision of such assistance. 2
SEC. 4. AUTHORITY TO PROVIDE DUTY-FREE TREATMENT 3
FOR GOODS AND SERVICES OF COMPANIES 4
MOVING FROM THE PEOPLE’S REPUBLIC OF 5
CHINA TO LATIN AMERICA OR THE CARIB-6
BEAN. 7
(a) I
NGENERAL.—Notwithstanding any other provi-8
sion of law, the President shall proclaim duty-free treat-9
ment (or other preferential treatment) for any good or 10
service made or produced in a Latin American or Carib-11
bean country by a qualified corporation that has received 12
assistance under section 3, subject to such terms and con-13
ditions as the President determines to be appropriate. 14
(b) R
EGULATIONS.—The President shall prescribe 15
such regulations as may be necessary to carry out this 16
section. 17
(c) E
FFECTIVEPERIOD.— 18
(1) I
N GENERAL.—Subsection (a) shall apply 19
with respect to a good or service made or produced 20
in a Latin American or Caribbean country by a cor-21
poration for the 15-year period beginning on the 22
date on which the corporation begins operations in 23
such country. 24
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(2) RULE OF CONSTRUCTION .—Nothing in this 1
section may be construed to affect duty-free treat-2
ment (or other preferential treatment) for any good 3
or service made or produced in a Latin American or 4
Caribbean country by a qualified corporation after 5
the 15-year period described in paragraph (1) if 6
goods and services from such country are otherwise 7
generally eligible for duty-free treatment (or other 8
preferential treatment). 9
SEC. 5. ADDITIONAL CONDITIONS ON RECEIPT OF ASSIST-10
ANCE UNDER SECTION 3 AND DUTY-FREE 11
TREATMENT (OR OTHER PREFERENTIAL 12
TREATMENT) UNDER SECTION 4. 13
(a) I
NGENERAL.—The appropriate Federal agency 14
may not provide assistance under section 3 or duty-free 15
treatment (or other preferential treatment) under section 16
4 to a corporation unless— 17
(1) the agency determines that the corporation 18
will create jobs in the Latin American or Caribbean 19
country to which it moves operations in numbers de-20
termined by the agency to be commensurate with the 21
assistance provided; 22
(2) the corporation makes a binding commit-23
ment to the agency that on and after the date the 24
assistance is provided— 25
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(A) the corporation will not come under 1
the ownership or control of the Government of 2
the People’s Republic of China or the Chinese 3
Communist Party, the Government of the Rus-4
sian Federation, or any other foreign adversary; 5
and 6
(B) the corporation will not have its head-7
quarters in the People’s Republic of China, the 8
Russian Federation, or any other foreign adver-9
sary; 10
(3) within 2 years after the date described in 11
paragraph (2), and subject to an additional exten-12
sion as determined appropriate by the agency, all as-13
sets of the corporation with respect to which the as-14
sistance is provided will have been moved from the 15
People’s Republic of China to a Latin American or 16
Caribbean country; and 17
(4) the corporation retains all assets of the cor-18
poration with respect to which the assistance is pro-19
vided in a Latin American or Caribbean country 20
after the date described in paragraph (2) or the last 21
day of the extension described in paragraph (3), as 22
the case may be. 23
(b) C
OMPLIANCEDETERMINATIONS.— 24
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(1) IN GENERAL.—The appropriate Federal 1
agency, in coordination with the Department of 2
State, shall make all determinations regarding com-3
pliance with the provisions of subsection (a). 4
(2) N
ON-COMPLIANCE ACTIONS .—A qualified 5
corporation that has received assistance under sec-6
tion 3 or duty-free treatment (or other preferential 7
treatment) under section 4 that is subsequently de-8
termined by the appropriate Federal agency not to 9
be in compliance with the provisions of subsection 10
(a) shall be subject to the following actions: 11
(A) Any good or service made or produced 12
in a Latin American or Caribbean country by 13
the corporation (other than a good or service 14
made or produced in a free trade zone or which 15
is subject to benefits under a free trade agree-16
ment) shall not be eligible for duty-free treat-17
ment (or other preferential treatment) under 18
section 4. 19
(B) The appropriate Federal agency shall 20
adjust the interest rate on any loan to be pro-21
vided by the agency to the corporation to the 22
prevailing market interest rate. 23
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(c) APPROPRIATEFEDERALAGENCYDEFINED.—In 1
this section, the term ‘‘appropriate Federal agency’’ 2
means— 3
(1) with respect to actions relating to assistance 4
under section 3, the DFC; and 5
(2) with respect to actions relating to duty-free 6
treatment (or other preferential treatment) under 7
section 4, the United States Trade Representative. 8
SEC. 6. EXPENSES PAID FOR WITH TARIFFS COLLECTED 9
FROM THE PEOPLE’S REPUBLIC OF CHINA. 10
(a) E
STABLISHMENT OF TRUSTFUND.—There is es-11
tablished in the Treasury of the United States a trust fund 12
consisting of such amounts as are appropriated to such 13
trust fund under subsection (b). 14
(b) A
PPROPRIATIONS TO TRUSTFUND.—There are 15
hereby appropriated to such trust fund amounts equiva-16
lent to the tariffs collected by the United States on goods 17
manufactured in the People’s Republic of China. 18
(c) A
PPROPRIATIONSFROMTRUSTFUND.—There 19
are hereby appropriated from such trust fund to the Gen-20
eral Fund of the Treasury amounts equivalent to the re-21
duction in revenue to such General Fund by reason of as-22
sistance provided by the DFC under this Act. 23
(d) T
IMING OFTRANSFERS, ETC.—Rules similar to 24
the rules of section 9601 of the Internal Revenue Code 25
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of 1986 shall apply with respect to appropriations to and 1
from such trust fund under subsections (b) and (c). 2
SEC. 7. AMENDMENTS TO THE BUILD ACT OF 2018. 3
(a) S
TATEMENT OF POLICY.—Section 1411 of the 4
Better Utilization of Investments Leading to Development 5
Act of 2018 (22 U.S.C. 9611) is amended— 6
(1) in paragraph (7), by striking ‘‘and’’ at the 7
end; 8
(2) in paragraph (8), by striking the period at 9
the end and inserting a semicolon; and 10
(3) by adding at the end the following: 11
‘‘(9) to further United States economic growth 12
by prioritizing United States-owned businesses in 13
providing support under title II; and 14
‘‘(10) to further United States national security 15
by prioritizing the production of goods in critical in-16
dustries, as determined by the Corporation, in con-17
sultation with the Department of Homeland Secu-18
rity.’’. 19
(b) P
ROHIBITION ONSUPPORT FORSTATE-OWNED 20
E
NTERPRISES.— 21
(1) I
N GENERAL.—Title V of the Better Utili-22
zation of Investments Leading to Development Act 23
of 2018 (22 U.S.C. 9671 et seq.) is amended by 24
adding at the end the following: 25
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‘‘SEC. 1455. PROHIBITION ON SUPPORT FOR ENTITIES 1
OWNED OR CONTROLLED BY FOREIGN GOV-2
ERNMENTS. 3
‘‘(a) I
NGENERAL.—Except as provided in subsection 4
(b), the Corporation is prohibited from providing support 5
under title II for an entity owned or controlled by a for-6
eign government. 7
‘‘(b) E
XCEPTION.— 8
‘‘(1) I
N GENERAL.—The Corporation may pro-9
vide feasibility studies and technical assistance 10
under title II for an entity owned or controlled by 11
a foreign government that is not a foreign adversary. 12
‘‘(2) F
OREIGN ADVERSARY DEFINED .—In this 13
subsection, the term ‘foreign adversary’ means a for-14
eign government engaged in a long-term pattern or 15
serious instances of conduct significantly adverse to 16
the national security of the United States or security 17
and safety of United States persons.’’. 18
(2) C
LERICAL AMENDMENT .—The table of con-19
tents for the FAA Reauthorization Act of 2018 (49 20
U.S.C. 40101 note) is amended by inserting after 21
the item relating to section 1454 the following: 22
‘‘Sec. 1455. Prohibition on support for entities owned or controlled by foreign
governments.’’.
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SEC. 8. TRADE NEGOTIATING AUTHORITY. 1
(a) I
NGENERAL.—The United States Trade Rep-2
resentative shall take action to initiate negotiations to ob-3
tain trade agreements with each Latin American or Carib-4
bean country that as of the date of the enactment of this 5
Act is not a party to a free trade agreement with the 6
United States if the country meets the conditions de-7
scribed in subsection (b). 8
(b) C
ONDITIONSDESCRIBED.—The conditions de-9
scribed in this subsection are the following: 10
(1) The country is taking steps to reduce mi-11
gration in violation of the Immigration and Nation-12
ality Act. 13
(2) The country is taking steps to reduce eco-14
nomic dependence on the People’s Republic of 15
China. 16
(3) The country allows Taiwan to establish and 17
maintain a commercial office in the country. 18
SEC. 9. AGREEMENTS FOR COOPERATION PURSUANT TO 19
SECTION 123 OF THE ATOMIC ENERGY ACT 20
OF 1954. 21
(a) I
NGENERAL.—The President is authorized to 22
take action to initiate negotiations with Latin American 23
and Caribbean countries to obtain agreements for coopera-24
tion pursuant to section 123 of the Atomic Energy Act 25
of 1954 (42 U.S.C. 2153) to approve the sales of nuclear 26
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reactors to such countries, or to qualified corporations 1
that receive assistance under this Act, but only if— 2
(1) the President determines that such sales 3
will not threaten the national security of the United 4
States; and 5
(2) the countries or qualified corporations, as 6
the case may be, meet the conditions described in 7
paragraphs (1), (2), and (3) of section 8(b). 8
(b) T
ECHNICALASSISTANCE ANDEXPERTISE.—The 9
Administrator of the United States Agency for Inter-10
national Development, in consultation with the Secretary 11
of Energy and the DFC, may provide technical assistance 12
and expertise in electrical grid and energy efficiency im-13
provements related to sales under subsection (a), as appro-14
priate. 15
SEC. 10. TEMPORARY INCREASED EXPENSING FOR RELO-16
CATING MANUFACTURING FROM THE PEO-17
PLE’S REPUBLIC OF CHINA TO A LATIN 18
AMERICAN OR CARIBBEAN COUNTRY. 19
(a) I
NGENERAL.—For purposes of section 168(k) of 20
the Internal Revenue Code of 1986, in the case of any 21
qualified relocated manufacturing property which is placed 22
in service by a qualified manufacturer after the date of 23
the enactment of this Act, and before January 1, 2038— 24
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(1) such property shall be treated as qualified 1
property (within the meaning of such section), 2
(2) the applicable percentage otherwise deter-3
mined under paragraph (6) of such section with re-4
spect to such property shall be 75 percent, and 5
(3) paragraphs (8) and (10) of such section 6
shall not apply. 7
(b) Q
UALIFIEDRELOCATEDMANUFACTURINGPROP-8
ERTY.—For purposes of this section— 9
(1) I
N GENERAL.—The term ‘‘qualified relo-10
cated manufacturing property’’ means qualified 11
property (within the meaning of section 168(k) of 12
such Code) or nonresidential real property (as de-13
fined in section 168(e)(2)(B) of such Code) which 14
is— 15
(A) placed in service in a Latin American 16
or Caribbean country by a qualified manufac-17
turer, and 18
(B) is acquired by such qualified manufac-19
turer in connection with a qualified relocation 20
of manufacturing. 21
(2) Q
UALIFIED RELOCATION OF MANUFAC -22
TURING.— 23
(A) I
N GENERAL.—The term ‘‘qualified re-24
location of manufacturing’’ means, with respect 25
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to any qualified manufacturer, the relocation of 1
the manufacturing of any tangible personal 2
property from the People’s Republic of China to 3
a Latin American or Caribbean country. 4
(B) R
ELOCATION OF PROPERTY NOT RE -5
QUIRED.—For purposes of subparagraph (A), 6
manufacturing shall not fail to be treated as re-7
located merely because property used in such 8
manufacturing was not relocated. 9
(C) R
ELOCATION OF NOT LESS THAN 10
EQUIVALENT PRODUCTIVE CAPACITY RE -11
QUIRED.—For purposes of subparagraph (A), 12
manufacturing shall not be treated as relocated 13
unless the property manufactured in a Latin 14
American or Caribbean country is substantially 15
identical to the property previously manufac-16
tured in the People’s Republic of China and the 17
increase in the units of production of such 18
property in a Latin American or Caribbean 19
country by the qualified manufacturer is not 20
less than the reduction in the units of produc-21
tion of such property by such qualified manu-22
facturer in the People’s Republic of China. 23
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(c) QUALIFIEDMANUFACTURER.—For purposes of 1
this section, the term ‘‘qualified manufacturer’’ means any 2
person— 3
(1) which is engaged in the trade or business of 4
manufacturing any tangible personal property, 5
(2) with respect to which the Secretary of the 6
Treasury (or the Secretary’s delegate) has made the 7
determination described in section 5(a)(1), and 8
(3) which has entered into a binding agreement 9
with such Secretary (or such delegate) to meet the 10
requirements of section 5(a)(2) which is enforceable 11
under terms similar to the terms of section 5(b). 12
SEC. 11. DEFINITIONS. 13
In this Act: 14
(1) DFC.—The term ‘‘DFC’’ means the United 15
States International Development Finance Corpora-16
tion. 17
(2) Q
UALIFIED CORPORATION .—The term 18
‘‘qualified corporation’’ does not include a State- 19
owned enterprise. 20
(3) Q
UALIFIED MOVING COSTS DEFINED .—The 21
term ‘‘qualified moving costs’’ means— 22
(A) the costs of moving inventory, equip-23
ment, and supplies from the People’s Republic 24
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of China to a Latin American or Caribbean 1
country; and 2
(B) the costs of workforce development 3
and construction of facilities. 4
(4) L
ATIN AMERICAN OR CARIBBEAN COUNTRY ; 5
WESTERN HEMISPHERE .— 6
(A) I
N GENERAL.—The terms ‘‘Latin 7
American or Caribbean country’’ and ‘‘Western 8
Hemisphere’’— 9
(i) mean a country in the Caribbean 10
Sea, South America, or Central America, 11
and Mexico; and 12
(ii) except as provided in subpara-13
graph (B), do not include Cuba or Ven-14
ezuela. 15
(B) E
XCEPTION.—The term ‘‘Latin Amer-16
ican or Caribbean country’’ shall include Cuba 17
or Venezuela if the Secretary of State deter-18
mines and certifies to Congress that— 19
(i) the government of such country— 20
(I) has held free and fair presi-21
dential and legislative elections, as de-22
termined by independent international 23
observers, and subsequent elections 24
are scheduled; 25
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(II) respects and upholds human 1
rights; 2
(III) is taking significant steps to 3
privatize its economy and institute a 4
free market; 5
(IV) permits the international 6
community to provide humanitarian, 7
governance, and economic develop-8
ment assistance; 9
(V) has freed all unlawfully de-10
tained United States citizens, legal 11
permanent residents, and political 12
prisoners; and 13
(VI) has expelled all security 14
services from foreign adversaries from 15
the country; and 16
(ii) the prior authorities of such coun-17
try have renounced their illegitimate claim 18
to power. 19
(5) F
EDERAL FUNDS RATE .—The term ‘‘Fed-20
eral funds rate’’ means the discount window primary 21
credit interest rate most recently published on the 22
Federal Reserve Statistical Release on selected inter-23
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est rates (daily or weekly), commonly referred to as 1
the H.15 release. 2
Æ
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