The US wants to сut industrial and supply dependence on China amid rising tensions between the two powers. However, not everyone is eager to pack their bags and leave the lucrative Chinese market in the midst of the previous row.
The Trump administration has long been pushing American firms to get back to US soil, especially when trade tensions were flaring between the two biggest global economies. Now the US has revived the trade war rhetoric again.
“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,” Under Secretary for Economic Growth, Energy and the Environment at the US State Department Keith Krach told Reuters.
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I foresee more of the trade war between US and China to escalate due to the coronanvirus outbreak, tensions are high now and with Australia also keen in investigating China over the pandemic, we should brace ourselves to see more of these in the coming months.
No ‘turbocharged’ efforts will be enough until the price of labour goes lower in the U.S. than it is today in China.
Since no productions in mainland U.S. they're full depending on China. What if the Chinese government cut there supply chain, perhaps all American will die. How stupid policy maker was that.
The Chinese market strategy will really be a big temptation for the USA to deal with