U.S. unveils new Latin America economic plan at reboot summit dogged by dissentLOS ANGELES - The Biden administration unveiled a new proposed U.S. economic partnership with Latin America as regional leaders gathered for a U.S.-hosted summit whose agenda has been undermined by discord over the guest list.Seeking to counter China's growing clout, a senior administration official said President Joe Biden is offering America's neighbors to the south an alternative that calls for increased U.S. engagement, including stepped-up investment, strengthening supply lines and building on existing trade deals.The deal will initially focus on "like-minded partners" that already have U.S. trade accords, the official said.Latin America, Caribbean could add $78 bln in yearly exports as businesses relocateLOS ANGELES - Nearshoring, where a business moves its operations to a nearby country from one farther away, could benefit Latin America and the Caribbean with up to $78 billion annually in exports, estimates showed.Mexico and Brazil would be the greatest beneficiaries, bringing in an additional $35.28 billion and $7.48 billion respectively, the Inter-American Development Bank (IDB) said.Mexico president trades barbs with Cuban-American senatorsMEXICO CITY - Mexican President Andres Manuel Lopez Obrador took swipes at Cuban-American Senators Marco Rubio, Ted Cruz and Bob Menendez during a regular press conference, piling on from criticism lobbed in recent days. Gaming news Lopez Obrador has accused the three senators, and other Cubans living in the United States, of wielding power to continue the United States' embargo on Cuba.Bolsonaro says he will not interfere with state-run PetrobrasRIO DE JANEIRO - Bolsonaro said the government would not interfere with state-run oil firm Petrobras, but complained about the company's high profits."Big oil companies have lowered their profit margin and here it's still the opposite," Bolsonaro said in a speech at for the Commercial Association of Rio de Janeiro.Lula, governors slam Bolsonaro fuel tax creditBRASILIA - Lula, a former Brazilian president, criticized measures taken by Bolsonaro to reduce taxes collected on fuels in an interview with a Minas Gerais-based radio station.Lula said the initiatives will not benefit the majority of the population and there could be a loss of revenue for Brazil's municipalities.Several state governors who met earlier with congressional leaders also spoke out against the move.BUENOS AIRES/LIMA/LOS ANGELES - China has widened the gap on the United States in trade terms in large swathes of Latin America since Biden came into office early last year, data show, underscoring how Washington is being pushed onto the back foot in the region.Cuban President Miguel Diaz Canel said in a televised speech that the United States lacked "moral authority" to lecture on democracy at the Summit.(Compiled by Steven Grattan and Kylie Madry; Editing by Lisa Shumaker)

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