Discussions are concrete, robust, and multi-lateral.
The United States is pushing to create an alliance of “trusted partners” dubbed the “Economic Prosperity Network,” that would include companies and civil society groups operating under the same set of standards on everything from digital business, energy and infrastructure, to research, trade, education and commerce.
This comes as the Trump Administration is “turbocharging” an initiative to remove global industrial supply chains from China and weighs new tariffs to punish Beijing for its handling of the coronavirus outbreak.
President Donald Trump has long pledged to bring manufacturing back from overseas. Now, economic destruction and the massive coronavirus death toll are driving a government-wide push to move U.S. production and supply-chain dependency away from China, even if it goes to other more friendly nations instead.
“We’ve been working on [reducing the reliance of our supply chains in China] over the last few years, but we are now turbocharging that initiative,” Keith Krach, Undersecretary for Economic Growth, Energy and the Environment at the U.S. State Department said. “I think it is essential to understand where the critical areas are and where critical bottlenecks exist.”
As the Lord Leads, Pray with Us…
- For members of the Trump Administration across many agencies as they work on the initiative to redirect the supply chain of many items away from China.
- About how the pandemic has awakened the world to re-evaluate who it is they do business with, and whether doing so becomes a matter of national security.
- For President Trump and Treasury Secretary Mnuchin as they consider putting additional tariffs on Chinese goods.
Sources: Reuters, Newsmax
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