Reshoring isn’t speeding up under current trade and Buy-American laws, according to a July 2018 report from A.T. Kearney.
In fact, imports into the United States from 14 trading partners in Asia rose by $55 billion or 8 percent.
A.T. Kearney is a management consultancy firm focused on business transformation.
The figure they report is the largest year-over-year increase since the economy rallied in 2011. The major contributors include “the continued economic benefits of producing labor-intensive products overseas, the fact that significant offshore investments were made that are not easily abandoned, and the domestic shortage of skilled labor for manufacturing operations,” said the report’s authors.
The report found that 12.4 cents worth of imports from the examined offshore countries headed to the U.S. with every $1 of domestic manufacturing gross output.
The complete report can be found here.
Some American industries are seeing benefits from reshoring: the transportation equipment manufacturing industry in particular stands to benefit and added 208,747 jobs between 2010 and 2017, according to Statista.
