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Global Trade This Week is hosted by Pete Mento and Doug Draper, offering expert insights on global trade, supply chains, and economic trends. Each episode breaks down key issues affecting international commerce, providing valuable analysis for industry professionals.
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Monday Oct 17, 2022
Monday Oct 17, 2022
Today on Uptime Logistics, Doug Draper of ACME Distribution and the Denver Transportation Club explores the concept of reshoring America’s manufacturing with Harry Moser, founder of the Reshoring Initiative. Created in 2010 as a non-profit, the Reshoring Initiative’s goal is to balance the trade deficit of goods that America has with its trading partners.
Harry begins by outlining how the U.S. had a trade deficit of $1.1 Trillion in 2021 . Balancing this would see US manufacturing increase by 40% along with 5 or 6 million new manufacturing jobs. Raising awareness, advocating for policies, and providing pathways to achieve this balanced outcome makes up the work of the Reshoring Initiative.
Doug asks more detailed questions about why all of this is important. Harry shares some of Ray Dalio’s ideas, along with his own, about the importance of strengthening the US economy and the greater level of confidence created along with that.
They discuss many factors ranging from environmtanl concerns to logistics costs and other considerations. Harry then dives into the methodologies to enables more reshoring, including their calculations of Total Cost of Ownership. Just by doing the math correctly, about 30% more manufacturing could be easily and economically advantageous to produce in the United States instead of abroad.
Today’s episode outlines the positive trends we have been seeing over the last 10 years in making progress on reshoring and the positive signals as we look forward to the next 5 and 10 years. Overall, Doug and Harry highlight the importance of reshoring through exploring the reasons why and the methods to achieve this goal.
Learn more at:
www.reshorenow.org
Read the 20 articles Rshoring Series here:
https://reshorenow.org/blog/welcome-to-the-rebuilding-and-reshoring-series
Contact Harry Moser at:
harry.moser@reshorenow.org
(847)867-1144
You can also support the Reshoring Initiative at no extra cost by using this Amazon Smiles link designed for supporting non-profit organizations:
https://smile.amazon.com/ch/45-3289843
Full Blog Post:
www.caplogistics.com/uptime-logistics-blog/2022/10/17/solar-energy-projects-for-sustainability-community-uptime-logistics
YouTube:
https://youtu.be/XvNLUAb-Wsw
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