The proposed Supply Chain Agreement is designed to enable IPEF partners to work together collaboratively through information exchange, sharing of best practices, collective response to disruptions, and supporting labor rights.
Near-shoring operations shouldn't be done lightly, but only after looking internally at business goals and externally at the market to make an informed decision.
Companies are always going to face the unexpected and unpredictable. The hard part is knowing how to prepare for these supply chain trends strategically.