I 
118TH CONGRESS 
1ST SESSION 
H. R. 722 
To decrease dependency on People’s Republic of China manufacturing and 
decrease migration due to lost regional economic opportunities. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 1, 2023 
Mr. GREEN of 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-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Western Hemisphere 
Nearshoring Act’’. 
SEC. 2. FINDINGS. 
Congress finds the following: 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
(1) Our neighbors in the Western Hemisphere 
play a vital role in ensuring peace, security, and de-
mocracy. 
(2) Instability and lack of economic opportuni-
ties in the region are major drivers of migration in 
violation of the Immigration and Nationality Act. 
(3) According to the United States Census Bu-
reau, in 2021 the United States exported $174.62 
billion worth of goods to Central and South America, 
and imported $121 billion. 
(4) The United States is a net exporter with 
Central and South America. 
(5) Economic growth and development of the 
Western Hemisphere brings essential strength and 
stability to the region. 
(6) There is significant opportunity to expand 
the free flow of goods and services in the Western 
Hemisphere. 
(7) Closer relations among the Americas 
through free trade agreements and trade liberaliza-
tion would encourage further economic development 
and stability in the region. 
(8) The United States should exercise its influ-
ence to encourage privatization, free markets, and 
economic cooperation in the region. 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
(9) Countries in the region should combat cor-
ruption, strengthen the rule of law, reduce bureau-
cratic red tape, streamline permitting, and embrace 
free market principles to encourage further private 
sector investment. 
(10) With cooperation from the United States, 
regional countries must take serious steps to curb 
migration in violation of the Immigration and Na-
tionality Act. 
(11) The Western Hemisphere has supply 
chains that are vulnerable due to their over depend-
ence on the People’s Republic of China. 
(12) Free trade and expanded commercial ties 
between the United States and Western Hemisphere 
partners will foster economic and commercial co-
operation, increase investment opportunities, de-
crease migration in violation of the Immigration and 
Nationality Act, reduce our dependence on the Peo-
ple’s Republic of China, and create jobs for Amer-
ican workers. 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
SEC. 3. USE OF UNITED STATES INTERNATIONAL DEVELOP-
MENT FINANCE CORPORATION FUNDS TO FI-
NANCE MOVING EXPENSES AND NECESSARY 
WORKFORCE 
DEVELOPMENT 
COSTS 
IN-
CURRED BY COMPANIES MOVING FROM THE 
PEOPLE’S REPUBLIC OF CHINA TO LATIN 
AMERICA OR THE CARIBBEAN. 
(a) USE OF FUNDS.— 
(1) IN
GENERAL.—The United States Inter-
national Development Finance Corporation, in co-
ordination with relevant Federal agencies (including 
the United States Trade and Development Agency, 
the Export-Import Bank of the United States, the 
United States Army Corps of Engineers, and the 
United States Agency for International Develop-
ment) and the United States Executive Directors of 
relevant international financial institutions (includ-
ing the World Bank Group, the Inter-American De-
velopment Bank, and the International Monetary 
Fund), shall use not less than 10 percent of the 
amounts made available to provide financing under 
section 1421 of the Better Utilization of Investments 
Leading to Development Act of 2018 (22 U.S.C. 
9621) for each fiscal year beginning after the date 
of the enactment of this Act to finance the qualified 
moving costs and necessary workforce development 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
costs of, and reduce the interest rate on any loan to 
be provided by the DFC to the interest rate de-
scribed in paragraph (3) to, any qualified corpora-
tion that is eligible for, or a recipient of, assistance 
from the DFC, to the extent of qualifying applica-
tions for assistance under this section. 
(2) AVAILABILITY
OF
UNUSED
AMOUNTS.—If 
the DFC does not use the entire amount described 
in paragraph (1) for a fiscal year described in such 
paragraph, such amount shall, to the maximum ex-
tent practicable, be made available to the DFC for 
the next fiscal year to carry out this section or other 
DFC programs for Latin American or Caribbean 
countries. 
(3) INTEREST RATE DESCRIBED.—The interest 
rate described in this paragraph is— 
(A) the Federal funds rate; or 
(B) the interest rate that is determined by 
reducing by not less than 1⁄2 of 1 percent and 
not more than 1 percent (but to not less than 
zero percent) the interest rate on the loan to be 
provided by the DFC to the qualified corpora-
tion, 
whichever is the lesser. 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
(b) NO NEGATIVE EFFECTS ON EMPLOYMENT IN 
THE UNITED STATES.—The DFC shall not provide assist-
ance under this section unless the Secretary of Commerce 
has determined that the provision of the assistance would 
not result in a negative effect on employment in the 
United States. 
(c) DISPOSITION OF UNUSED ASSISTANCE.—A cor-
poration to which financing is made under this section 
shall remit to the DFC any portion of the assistance that 
is not expended within a period of time after the date the 
financing is made that is determined by the DFC on a 
case-by-case basis. 
(d) CONDITIONS
ON PROVISION
OF LOANS.—The 
DFC— 
(1) may provide loans under this section to a 
corporation only if the loans are commercially viable, 
as determined by the DFC; and 
(2) shall determine an appropriate amount of 
time for repayment of loans under this section to a 
corporation. 
(e) PLAN.—Not later than 180 days after the date 
of the enactment of this Act, the DFC shall develop and 
submit to the Committee on Foreign Affairs of the House 
of Representatives and the Committee on Foreign Rela-
tions of the Senate a plan to streamline the provision of 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
assistance under this section, including to expedite the ap-
proval process for the provision of such assistance. 
SEC. 4. AUTHORITY TO PROVIDE DUTY-FREE TREATMENT 
FOR GOODS AND SERVICES OF COMPANIES 
MOVING FROM THE PEOPLE’S REPUBLIC OF 
CHINA TO LATIN AMERICA OR THE CARIB-
BEAN. 
(a) IN GENERAL.—Notwithstanding any other provi-
sion of law, the President shall proclaim duty-free treat-
ment (or other preferential treatment) for any good or 
service made or produced in a Latin American or Carib-
bean country by a qualified corporation that has received 
assistance under section 3, subject to such terms and con-
ditions as the President determines to be appropriate. 
(b) REGULATIONS.—The President shall prescribe 
such regulations as may be necessary to carry out this 
section. 
(c) EFFECTIVE PERIOD.— 
(1) IN GENERAL.—Subsection (a) shall apply 
with respect to a good or service made or produced 
in a Latin American or Caribbean country by a cor-
poration for the 15-year period beginning on the 
date on which the corporation begins operations in 
such country. 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00007
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB
(2) RULE OF CONSTRUCTION.—Nothing in this 
section may be construed to affect duty-free treat-
ment (or other preferential treatment) for any good 
or service made or produced in a Latin American or 
Caribbean country by a qualified corporation after 
the 15-year period described in paragraph (1) if 
goods and services from such country are otherwise 
generally eligible for duty-free treatment (or other 
preferential treatment). 
SEC. 5. ADDITIONAL CONDITIONS ON RECEIPT OF ASSIST-
ANCE UNDER SECTION 3 AND DUTY-FREE 
TREATMENT 
(OR 
OTHER 
PREFERENTIAL 
TREATMENT) UNDER SECTION 4. 
(a) IN GENERAL.—The appropriate Federal agency 
may not provide assistance under section 3 or duty-free 
treatment (or other preferential treatment) under section 
4 to a corporation unless— 
(1) the agency determines that the corporation 
will create jobs in the Latin American or Caribbean 
country to which it moves operations in numbers de-
termined by the agency to be commensurate with the 
assistance provided; 
(2) the corporation makes a binding commit-
ment to the agency that on and after the date the 
assistance is provided— 
VerDate Sep 11 2014 
22:19 Mar 02, 2023
Jkt 039200
PO 00000
Frm 00008
Fmt 6652
Sfmt 6201
E:\BILLS\H722.IH
H722
pbinns on DSKJLVW7X2PROD with $$_JOB