Report: U.S. Government Devising Strategy to Secure Supply Chains Away from China

The COVID-19 pandemic has highlighted a topic President Trump has focused on since his presidential campaign. Depending on China for personal protective equipment (PPE) and drug manufacturing has government officials discussing plans to incentivize companies to secure operations and supply chains away from China, according to a Reuters report.

The report says discussions are under way between industry executives and members of Congress for potential ideas that include tax incentives, specifically crafted subsidies, and new rules. One new idea is reportedly a $25 billion "reshoring fund" to entice companies to rethink reliance on China.