The leaders of five U.S. trade associations said March 12 that one solution to the growing supply chain issues resulting from global trade disputes and the spreading coronavirus pandemic could be found within American manufacturers.
In an open letter to CEOs, the American Mold Builders Association, the National Tooling & Machining Association, the Precision Machined Products Association, the Precision Metalforming Association and the Technology & Manufacturing Association stated that their member companies “stand ready to assist those industries who are facing global supply chain disruptions to help the economy continue its record growth.”
In part, the letter told U.S. manufacturing leaders, “American companies who source inputs and equipment from across the globe can minimize disruption to their businesses by looking to domestic suppliers. Near sourcing and reshoring business to the U.S. will not only help minimize current impacts but will also mitigate future exposure to global challenges all while tapping into America’s vast and innovative industrial base and supporting American workers.”
The association leaders noted their membership reports between 60-70% plant utilization, which means their members “can meet current and future demand, helping companies grow and thrive.”
The trade associations represent more than 3,500 companies in industries that employ more than 475,000 workers.
