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Tags: China | Coronavirus | Financial Markets | Infrastructure | Money | U.S. manufacturing | made in the USA

Post-COVID, More CEOs Look to 'Made in the USA'

buy made in the usa
(Dreamstime)

By    |   Monday, 01 November 2021 04:46 PM

One of the trademark chants that could be heard at the enthusiastic rallies for President Trump was that of, "USA! USA! USA!" A reference to Trump's goal of "Putting America First" -- including bringing manufacturing plants for America's iconic brands back home from overseas.

While that has completely fallen by the wayside in the Biden adminstration, The Wall Street Journal reports that chief executive officers (CEOs) are, post-pandemic, thinking of bringing production back home.

Some are moving their plants closer to their suppliers, oestensibly to eliminate at least one step in the global production process, The WSJ reports. Others are creating in-house facilities.

"It's about control. I want to have more control in an uncertain world," says Ellen Kullman, former CEO of DuPont and now CEO of Carbon, Inc., a 3-D printing company. Kullman is also a director at Goldman Sachs Group Inc.

Kullman says the widespread reports about the convoluted global supply chain, with China at the core of many goods, has opened the eyes of her peers at other leading companies. "They're realizing ... they're losing business because they're ... stuck with a very long ... very inflexible supply chain."

Some CEOs, however, think the disruption to the global supply chain is an anomaly. But others think other pandemics, climate-change or black-swan events could happen again and that they will need to be better equipped to continue to run their busineses.

Business disruptions are also causing some employers, like Delta airlines, to hire more staff to service its planes, etc.

As Delta CEO Ed Bastian puts it: "If you're running a hotel and you can't find staff, well, staff isn't going to show up magically. You got to go out and be creative."

 

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StreetTalk
One of the trademark chants that could be heard at the enthusiastic rallies for President Trump was that of, "USA! USA! USA!"
U.S. manufacturing, made in the USA
286
2021-46-01
Monday, 01 November 2021 04:46 PM
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