In this article, the authors discuss the realignment of global trade and the reversal of free trade, as globalization is overtaken by populism and protectionism. As a result of this trend, US companies are modifying their supply chains, and according to a Bain & Co. survey, 60 percent of executives doing business in China felt that the trade war has given them an opportunity to re-think their strategies.
Maine Pointe CEO Steve Bowen was quoted noting how these new realities are changing how companies look at their total supply chain. Steve notes that companies are finding new suppliers, offering an example of one manufacturer which uses steel products from China, but is now looking for a European supplier. Still, companies that rely on sophisticated and high-tech manufacturing may find it difficult to move production to other countries, regardless of tariffs.