The U.S. could establish a more resilient supply chain and protect the economy from global disruption. Without government aid, intervention and subsidy, however, this is no more than a pipe dream.
U.S. Treasury Secretary Janet Yellen called on “trusted” U.S. allies to strengthen trade relationships to shore up global supply chains disrupted by the pandemic, worsened by Russia’s war in Ukraine and threatened longer term by a reliance on China.
Michael Walsh, partner with the law firm of Foley & Lardner LLP, discusses the impact on supply chains to date arising from Russia’s invasion of Ukraine, and what further effects companies might experience in the months to come.
Developers of battery metals projects can win support from the U.S. government as it seeks to counter the dominance of China in clean-technology supply chains.
The adoption of tactical “firefighting” rather than a strategic approach should sound alarm bells, not least because of the missed opportunity to revolutionize supply chain planning.
Shipping faces cyber risks similar to those in other industries — but the stakes are much higher given that almost 80% of global trade moves on the sea.