Editor's Note:
This is a viewpoint from the USMCA Forward 2023 report where experts dive into the opportunities and complementary actions needed to build more integrated, resilient, and secure supply chains in North America.
The world is confronting a number of challenges, including a global health pandemic and the Russian invasion of Ukraine. These shocks have exposed the vulnerability of the global supply chains created by decades of failed trade policy and corporate-driven globalization, resulting in shortages of critical supplies and manufacturing inputs and amplifying inflation.
The Biden–Harris Administration has advanced a bold plan to strengthen America’s resilience against the costly supply disruptions that have placed workers’ and our families’ health and safety at risk, idled major manufacturing plants, and exposed significant threats to our economic and national security. Building on an early executive order on the U.S. supply chains, together with commitments on domestic manufacturing and workers’ rights, the administration and Congress have enacted a set of policies aimed at achieving a coherent industrial strategy—one long overdue to make us competitive with other major manufacturing economies and to address decades of job loss and economic dislocation. These actions include:
- Supply-side incentives to establish, retool, or expand U.S. manufacturing capacity in economically critical and emerging sectors. This includes, for example, semiconductors and...
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