That the Senate— (1) recognizes that increased tensions between the United States and the People’s Republic of China and the COVID–19 pandemic have— (A) exposed severe vulnerabilities attributable to overreliance by the United States and other countries on supply chains based solely or mainly in the People’s Republic of China; and (B) heightened the importance of the United States diversifying its supply chains through reshoring and nearshoring initiatives to increase resiliency against future disruptions; (2) emphasizes that reshoring efforts of sufficient scale to increase domestic production capacity and relocate supply chains to the United States remain critical and should be encouraged and implemented; (3) emphasizes that— (A) nearshoring efforts should be pursued in a complementary fashion to better achieve more resilient, diverse, and secure supply chains, particularly for goods unlikely to be produced in the United States; (B) nearshoring in Latin America and the Caribbean, relative to relying on supply chains in other geographic regions, has the greatest potential to contribute to the economic prosperity and security of the United States while also advancing the post-pandemic economic recovery of countries in the Western Hemisphere; (C) nearshoring in Latin America and the Caribbean provides greater opportunities for expanding co-production operations and other cooperative business ventures with United States entities; and (D) nearshoring in Latin America and the Caribbean can complement and enhance efforts by the United States to support democratic consolidation across the region by strengthening the rule of law, encouraging competitiveness, promoting education and vocational training, and raising standards on corruption, labor, and environmental issues