Balloons Sparks Global Sourcing Conversations

supply chain diversification - The Chemical Company

The recent alleged ‘spy’ balloon from China shot down over the United States has led to several conversations in North America with regards to global supply chains. One specific dialogue is citing this incident as supporting evidence to diversify supply chains. Many trade associations, which have been arguing for the diversification of supply chains for a while, are now using the balloon platform to continue conversations of moving manufacturing from China to other countries. “The ongoing tensions with the U.S.-China trade relationship continue to highlight the need for supply chain diversification,” said Jon Gold, vice president of supply chain and customs policy of the National Retail Federation. The revised North American Free Trade Agreement (NAFTA) has proposed new supply chain opportunities for the U.S., Canada, and Mexico. An article published by CNBC highlights points presented from trade and retail associations arguing for revised supply chain operations.

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