December 9, 2021
John G. Murphy
Senior Vice President for International Policy
At the height of the pandemic, the U.S. and Europe faced acute shortages of critical materials needed to respond to the crisis. Today, supply chains continue to be under pressure due to spiking consumer demand and significant supply challenges.
Some have called for moving all manufacturing “back home,” but this may not the best way forward. Instead, we should work to establish closer trade and investment links with trusted partners to expand capacity, ensure consumer choice, and blunt those who aim to use supply shortages as a geopolitical tool.
During the Transatlantic Business Works Summit 2021. experts spoke about the concept of "friend-shoring" and improving supply chains through working more with trusted partners. Watch the video above for more.