In recent days, the Trump administration has been pushing an initiative to remove industrial supply chains from China amid the economic hardships and U.S. death tolls from coronavirus. The U.S. would like to bring manufacturing back from overseas and reduce reliance on China.
According to Keith Krach, U.S. Undersecretary for Economic Growth, Energy and the Environment, “we’ve been working on (reducing the reliance of our supply chains in China) over the last few years but we are now turbo-charging that initiative.”
Tax incentives and possible subsidies are a few ways being considered to spark companies to move both sourcing and manufacturing out of China.
Click here for full article from China Economic Review
