The US is moving manufacturing back to the country. A number of companies are opening new factories in the United States. Following the trade war between the US and China, companies began to review their supply chains. American manufacturers are bringing production back to the US in order to reduce their dependence on global supply chains that were vulnerable to the Pandemic. A majority of American companies with production operations in China have already moved back to the US, according to a report.
At least 15% of companies are considering moving production to the US due to high tariffs and ongoing supply chain challenges, according to a report.
Low-cost Asian countries imported more to the US last year.
The Russia-Ukraine war has led to reshoring.
The company said in January it would spend $7 billion on four plants. It spent over forty billion dollars buying parts from US suppliers last year.
The manufacturer behind Chevrolet, GMC, Cadillac, and Hummer is increasing its battery cell production in order to become the biggest electric vehicle producer in North America.
The expansion of US production by GE Appliances will create more American jobs.
The company has invested more than $2 billion in its US plants and distribution centers in the last two years.
In the past five years, it has increased its spending on US suppliers by two thirds.
The two chip factories in Phoenix are due to open in four years. According to the company, the US has lost ground in manufacturing chips.
Billions of chips are used in a variety of products from computers to cars.
The $3 billion steelmaking factory will be in Arkansas. Nucor is spending more than $2 billion on a steel plate mill in Brandberg, Kentucky with construction set to begin later this year.
Production was moved from China to the US. Plans for a new plant in South Carolina were announced last year.
A new Missile System Integration Lab facility is being built in Alabama. A further 200 jobs are expected to be created in Alabama by the defense contractor.
The trade war between the US and China resulted in high tariffs on Chinese goods.
As the trade war began, the Trump administration called for jobs to be brought back to the US.
Increasing tariffs on Chinese imports would cost consumers and put jobs at risk, according to manufacturers. Businesses were told to immediately look for alternative manufacturers in China and bring their companies home.
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