He stated at the business conference that the Americas Partnership for Economic Prosperity was intended to bring supply chains closer to home, reforming the Inter-American Development Bank, streamlining investment and kicking climate action into high gear. The plan, which appears to be a work in progress, stops short of offering tariff relief and will focus on countries that already have US trade agreements, because it seems to be a work in progress.
Biden said he wanted to make sure our closest neighbors have a real choice between the debt trap development that has become more and more common in the region, and the transparent approach to infrastructure investment that delivers lasting gains for workers and families. Officials accuse China of pushing deals in the developing world with strings attached to saddle their partners with long-term debt.
The draft document seen by Reuters shows that leaders were poised to issue a declaration on Friday pledging measures to curb irregular migration and help countries with large numbers of migrants cope with problems at the US-Mexico border.
The White House didn't respond immediately to a request for comment on whether the document was final.
Biden Chaired leaders' talks on Thursday aimed at promoting energy security, as Western powers try to lower their dependence on oil and gas from Russia.
He hosts the summit to address challenges at home and abroad, such as surging inflation, debate over gun control after mass shootings, and the war in Ukraine.
Instead of burningishing regional unity, the summit has been bedeviled by diplomatic strife sparked by Washington's exclusion of three countries, citing their poor records on human rights and democracy.
That upset allies of the leftist trio of countries, especially Lopez Obrador, who made good on a threat to stay away if all nations were not invited.
Other leaders said they would do the same, thinning the line-up of visiting heads of state and government in attendance to 21.
Biden was not responding when a reporter asked whether he was concerned about some leaders boycotting the summit. His aides have played down the absences.
Lopez Obrador spoke in Mexico City, backed Washington's drive to strengthen economic ties in the region, but urged the United States to get over its decades-long differences with Cuba. Havana was invited to the past two Americas summits.
America should integrate economically and commercially while respecting the sovereignty of each country, he said.
The partial boycott has given greater prominence to the first meeting between Biden and Bolsonaro, an admirer of former US President Donald Trump who has doubted Biden's 2020 election victory.