WASHINGTON - The Trump administration is"turbocharging" an initiative to remove global industrial supply chains from China as it weighs new tariffs to punish Beijing for its handling of the coronavirus outbreak, according to officials familiar with US planning.
"I think it is essential to understand where the critical areas are and where critical bottlenecks exist," Krach said, adding that the matter was key to US security and one the government could announce new action on soon. "All the money that people think they made by making deals with China before, now they've been eclipsed many fold by the economic damage" from the coronavirus, the official said.
But discussions about moving supply chains are concrete, robust, and, unusually for the Trump administration, multi-lateral. China overtook the United States as the world's top manufacturing country in 2010, and was responsible for 28% of global output in 2018, according to United Nations data.
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