The trend comes in part from the U.S.-Mexico-Canada Agreement (USMCA), which took effect in July 2020 as a replacement for the North American Free Trade Agreement.

With more capacity from shipbuilders on the way, shipping companies have limited leverage in what’s become a buyers’ container market. 

The North America Semiconductor Conference forum was held by the Semiconductor Industry Association and Arizona State University during the week of May 19.

Negotiators would reportedly like to announce an agreement regarding Indo-Pacific trade talks at a meeting of ministers taking place in Detroit on May 27.

New demands are popping up everywhere because new technologies have led to new semiconductor manufacturing facilities, or fabs, being planned around the world.

Tata Group, the parent company of Jaguar Land Rover, is reportedly leaning toward the U.K. as the location for the company's next major battery plant.

Stellantis NV, which employs 5,000 people in the U.K., said it’s unable to meet local requirements because of rising material costs and a lack of U.Kbattery supplies.

Options will help explore diversification methods, and continue to help companies deal with any future sanctions or restrictions.

The GEP Global Supply Chain Volatility Index fell from 0.32 in March 2023 to -0.04 in April 2023, meaning supply chains have become less volatile.