If approved, the measure would likely trigger contractual challenges for European logistics firms and political backlash from other gas-buying nations.
Gartner predicts that by 2028, 70% of companies will adopt regionally diversified supply chain models to improve network resiliency in the face of ongoing global disruptions.
Tesla has attracted intense backlash since the company opened the factory in March 2022, and later announced plans to expand into a nearby forest to increase its production capability.
Biden’s tariff move comes after his nation’s turbulent relationship with China has stabilized in recent months amid a flurry of diplomatic engagements.
With inflation and interest rates easing, manufacturing investment is on the rise. Several large manufacturers have said they plan to increase capital investments and merger and acquisition deal-making in 2024.
Ex-Asia rates have increased by around $1,000/FEU since the end of April, climbing to $4,000/FEU for routes to the U.S. West Coast and Northern Europe.
The most crucial tool a supply chain manager can have to fend off UFLPA or other compliance risks is a transparent view of your suppliers’ critical relationships.