; Whereas 8 of the 13 countries in the world that recognize Taiwan are in Latin America and the Caribbean, and nearshoring initiatives can help decrease the susceptibility of such countries to coercive economic pressure from the People's Republic of China; Whereas the United States has free trade agreements in effect with 12 countries in Latin America and the Caribbean, more than in any other geographic region, providing significant incentives to relocate international supply chains that cannot be relocated to the United States to Latin America and the Caribbean; Whereas, in addition to existing free trade agreements and the geographic proximity of countries in Latin America and the Caribbean to the United States, there are several significant advantages for the United States Government and United States entities to relocate supply chains from the People's Republic of China to the Western Hemisphere, including— (1) reduced distance to markets in the United States, which will lower freight costs, enable quicker adaptability to fluctuating consumer demand, and reduce the energy used to transport goods; (2) longstanding bilateral ties and shared democratic values, which lessen the risk of geopolitical disruptions to supply chains; (3) comparative advantages for sourcing and manufacturing key critical goods, including rare earth minerals, pharmaceuticals, medical goods, and semiconductors, when there is a historical inability for such goods to be entirely sourced or manufactured in the United States; and (4) access to a highly qualified and young working-age population; Whereas the report entitled Widening the Aperture: Nearshoring in Our Near Abroad released by the Wilson Center in April 2021 provided evidence that increasing and strengthening supply chains regionally, particularly in Colombia, Mexico, and other countries in the Caribbean and Central America, will, on average, create more jobs in the United States than international supply chains located in other geographic regions