Kearney’s “10th Annual Reshoring Index Report” showed 96% of CEOs are considering reshoring operations, have decided to reshore operations, or have already reshored operations in 2023.

While the G7 statement was not specifically directed at China, the group believes a high concentration of supply chains in any single country is undesirable.

A report from Anvyl found 60% of small and mid-sized businesses reported losses of up to 15% or more in revenue due to supply chain delays.

Simply dumping a non-compliant supplier is probably the most disruptive option, and also in many ways the least good one. Better, in most cases, to deepen the relationship and offer genuine solutions.

President Joe Biden’s administration has been seeking help from allies including South Korea in reducing the global supply chain’s dependence on China.

The bank says the research shows global supply chain pressures decreased again in March, falling from .28 to 1.06 standard deviations below the index’s historical average.

The U.K. Cabinet Office said the new regime was a "huge step forward for the safety, security and efficiency of our borders." But the Cold Chain Federation, which represents chilled food traders, said it will hamper trade.

Fast Retailing had originally performed compliance checks only on plants operated by primary and secondary suppliers. Now, Uniqlo will handle compliance checks for third-tier cotton spinning mills.

The FDA has long been criticized for lapses in inspections of overseas manufacturing in China and India, which are the two major producers of drugs and raw ingredients for medicines.