Reuters: U.S. mulls paying companies, tax breaks to pull supply chains from China
U.S. lawmakers and officials are crafting proposals to push American companies to move operations or key suppliers out of China that include tax breaks, new rules, and carefully structured subsidies.
Interviews with a dozen current and former government officials, industry executives and members of Congress show widespread discussions underway – including the idea of a “reshoring fund” originally stocked with $25 billion – to encourage U.S. companies to drastically revamp their relationship with China.
President Donald Trump has long pledged to bring manufacturing back from overseas, but the recent spread of the coronavirus and related concerns about U.S. medical and food supply chains dependency on China are “turbocharging” new enthusiasm for the idea in the White House.