SE North Carolina News

Senator Ted Budd (R-NC) has introduced the Defending American Property Abroad Act, with support from Senator Bill Hagerty (R-TN). This bipartisan legislation aims to impose retaliatory measures against any Western Hemisphere nation that unlawfully seizes American assets. The bill addresses recent actions by the Mexican government to seize a deep-water port owned by U.S.-based Vulcan Materials Company, which violates the United States-Mexico-Canada Agreement (USMCA).

The bill is co-sponsored by Senators John Barrasso (R-WY), Katie Britt (R-AL), Tim Kaine (D-VA), and Tommy Tuberville (R-AL).

In a statement, Senator Budd emphasized the importance of the trade relationship between the United States and Mexico: “The United States and Mexico have an important trade and economic relationship. The illegal seizure of American property and infrastructure in Mexico is unacceptable and undermines that relationship. I am proud to partner with Senator Hagerty to stand up for American’s right to engage in international commerce without being extorted.”

Senator Hagerty also expressed his condemnation of Mexican President Andrés Manuel López Obrador's actions: “I strongly condemn AMLO’s threats against Vulcan Materials Company and am pleased to see this bipartisan rebuke from the United States Senate. No nation or president, and especially one of our largest trade partners, should be allowed to bully an American firm without consequences. Our legislation will help to undermine any attempt by AMLO to profit from his illegal actions and, in the event of a seizure, would strengthen our nation’s position in trade negotiations with Mexico.”