U.S. manufacturers are accelerating their shift out of China, coming to terms wi...
- U.S. manufacturers are accelerating their shift out of China, coming to terms with a new reality: the Trump administration’s tariffs will not go away any time soon.
That confirms what many companies have already concluded. Even if the hot phase of this trade war passes, tensions will linger and continue to reshape the economic relationship between the world’s two largest economies. It will take years, however, for large manufacturers and retailers to build new supply networks. Many companies have held off raising prices to offset tariffs, in hope that they would go away.
“The geopolitical issues between the two countries will continue to be large and with so much at stake, the relationship will be touchy going forward,” Bissell said in an email. “Diversifying the supply chain makes continued sense and I don’t see a reversal of course.” Many companies are stuck in a wait-and-see mode, but the realization that there will not be a quick fix is growing.
“It may be time-consuming and expensive for us to alter our business operations in order to adapt to or comply with any such changes,” the company said.
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