US study says cost of onshoring supply chains from China could top $1 trillion

Container Ship

A new research paper published by the Bank of America (BofA) notes an emerging shift among North American and European manufacturers toward onshoring production from China, in spite of facing costs that could exceed US$1 trillion over the next five years.

Tariffs, trade disputes, security concerns and threat of future pandemics said to be driving shift away from globalised supply chains in spite of higher costs…


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