empty
 
 
US reviews its supply chains to combat China’s abusive pract...
24-06-2021 15:46
US reviews its supply chains to combat China’s abusive practices
US reviews its supply chains to combat China’s abusive practices

China is notorious for neglecting the rules of fair trade. That is why the US wants to set up a “strike force” to strengthen its supply chains and develop countermeasures. The US authorities are going to review and adjust the country’s reliance on foreign partners for the supply of critical products, from semiconductors to electric car batteries. In addition, the US Department of Commerce is considering an investigation into the national security impact of neodymium magnet imports that are mostly supplied from China. US President Joe Biden ordered a review of key US supply chains in February this year. The focus was on essential pharmaceuticals and rare earth minerals. Notably, the "supply chain trade strike force" is not aimed exclusively at China. The new policy is part of a broader US administration strategy to make the US supply chain more resilient. The US has faced unfair trade practices from “a number of foreign governments.” According to US officials, “a number of Chinese industrial policies have contributed to vulnerable US supply chains.” In February, Joe Biden said that the US and its foreign partners should “hold China accountable for its economic practices.” He also accused Beijing of undermining “the foundations of the international economic system.”

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
Can't speak right now?
Ask your question in the chat.
Widget callback