The U.S. Wants Manufacturing to Drive Growth. Foreign Friends Can Help

“Favoring the ‘friend-shoring’ of supply chains to a large As the world grappled with shortages number of trusted countries, so we can continue and soaring prices of energy and to securely extend market access, will lower the risks to our economy, as well as to our trusted food following Russia’s invasion trade partners.”1 of Ukraine in the spring of 2022, Treasury Secretary Janet Yellen Yet, when. [...] The best known is the Toyota The foreign companies draw fire from unions and Production System, designed to eliminate waste progressives, however, for locating many of their and shorten delivery time, and fortified by the plants in the less union-friendly South. [...] Toyota executives say the company competitive to those at the Big Three, but they had learned from its experience following the were free from the high pension and healthcare 2011 earthquake and tsunami in Japan, which liabilities for older and retired union workers that disrupted semiconductor output and curbed auto for long weighed on the Detroit automakers’ production in the country.9 bottom li. [...] Steel by leakage to the Soviet Union.22 The 1988 Exon- Nippon Steel, Japan’s No.1 steel maker that has Florio Amendment to the Defense Production pledged billions of dollars in new investment to Act — adopted in response to growing Japanese upgrade existing mills in the industrial Midwest. [...] The collapse of the As the tensions with China grew in recent years, deal would represent the first use of the CFIUS former President Trump in 2018 signed a law process to kill a transaction with no clear linkage expanding CFIUS’s jurisdiction to real estate to China risks by a company from a close ally.