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48% in a recent survey prefer diversifying their supply chain


Thursday, April 16, 2020

Sikich, a leading industry analyst, recently published a report detailing the industrial sector’s current thoughts and future plans relating to recent and evolving market dynamics.

As it relates to the U.S.-Mexico-Canada Agreement (USMCA), 63% of manufacturers and distributors with revenues of less than $500M feel the impact will be positive.

58% of businesses this size also feel the U.S.-China Economic and Trade Agreement will be positive.

72% of manufacturers and distributors with revenues of more than $500M feel the USMCA will be positive. 67% of businesses this size also feel the USCETA will benefit their business.

In response to these new trade developments:

• 56% are manufacturing more products or components in the U.S.

• 61% feel the impact of the Trump Administration’s trade policies will benefit their business.

43% feel the election of Joe Biden would have a positive impact on their company.

To more effectively manage health initiatives going forward:

• 48% of respondents plan on diversifying their supply chain over various geographic regions.

• 39% plan to close manufacturing operations in high-risk countries.

• 25% plan on bringing more operations to the U.S. from other countries.

By: DocMemory
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