U.S. Treasury Secretary Janet Yellen has reiterated the need for the United States and its trusted trading partners to boost supply chain resilience through “friend-shoring,” but said this does not mean the U.S. is retreating from the rest of world.
The term draws on the concepts of “onshoring” and “nearshoring,” which refer to the transferring of supply chains back home or closer to home, as opposed to having them in foreign countries. “Friend-shoring” goes beyond that but limits supply chain networks to allies and friendly countries.
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