USMCA, Covid-19 and the US-China trade war: North Americas shifting supply chains

David A. Gantz

Chapter 19 in Research Handbook on Trade Wars, 2022, pp 362-381 from Edward Elgar Publishing

Abstract: A multiplicity of pressures is forcing enterprises operating in the United States to abandon or at least significantly reduce their dependence on Chinese sourcing. This "perfect storm" of the U.S.-China Trade War, national security concerns with China, the entry into force of the USMCA, the COVID-19 pandemic and carbon footprint concerns, is combining to bring about what are expected to be fundamental changes in the way many enterprises conduct their business, favoring suppliers in the United States or elsewhere in North America. Maximization of profits and minimization of production costs in the future will require balancing with the need to diversify supply chains and reduce if not eliminate dependence on Chinese sourcing. American businesses will be forced to adapt; those that cannot, or will not, may perish. This chapter explains the various pressures and both the challenges and opportunities that are presented, particularly for the United States and its partners in the new USMCA.

Keywords: Asian Studies; Economics and Finance; Geography; Politics and Public Policy (search for similar items in EconPapers)
Date: 2022
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