Business

Business group cautions U.S. on “re-shoring” too much China supply

China Plus Published: 2020-05-20 12:12:58

The U.S. Chamber of Commerce has warned the U.S. government against overdoing the effort to return U.S. supply chains from China during the COVID-19 pandemic, reports Reuters.

Chamber CEO Thomas Donohue said on Tuesday that “protecting the resilience of our supply chain doesn’t mean re-shoring all production in the United States,” adding that such moves would harm the country’s economy.

Cargo cranes are used to take containers off of a Yang Ming Marine Transport Corporation boat at the Port of Tacoma in Tacoma, Washington, Nov. 4, 2019. [File Photo: AP/Ted S. Warren]

Cargo cranes are used to take containers off of a Yang Ming Marine Transport Corporation boat at the Port of Tacoma in Tacoma, Washington, Nov. 4, 2019. [File Photo: AP/Ted S. Warren]

While U.S. President Donald Trump pledged to return manufacturing jobs from overseas, the recent spread of the coronavirus and concerns about dependency on China and its imports has sparked a new enthusiasm for the move, especially in the White House.

But the U.S. Chamber of Commerce and other groups say moving production facilities to the United States from overseas will be costly and time-consuming and stockpiling essential supplies would be more cost effective, according to the report.

The chamber also worries about the U.S. government possibly triggering retaliation from China and other countries, if they followed through with extending the “Buy American” rules for buying drugs and medical equipment.

(Story includes material sourced from CGTN.)

Related posts

Tesla to build 4,000 Model 3s per week in Shanghai by mid-2020

epoekie

US and AT&T discuss conditions for approval of Time Warner deal

epoekie

MOFCOM: Fourth China-Arab States Expo to be held on Sept. 5-8 in NW China

epoekie

How the US tax code bypasses women entrepreneurs

epoekie

Video app TikTok names top Disney streaming exec as new CEO

epoekie

Real estate developers eye commercial gains in SW China

epoekie

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More