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02:09
US: Business leaders question US gov't rationale in trade policy
Some U.S. company executives questioned the rationale of addressing U.S. trade deficit by promoting manufacturing in the country, at the Global Supply Chain Excellence Summit held in mid-August at the University of Southern California, Los Angeles. For decades, U.S. companies have relied on imports from China. Bilateral trade accounted for nearly 600 billion U.S. dollars in 2024. Top business leaders meeting at this year's summit discussed how to make adjustments to long-established supply chains. Many U.S. executives don't want to decouple from China, pointing to preponderant advantages of the country in the manufacturing sector. The U.S. government aims to address its trade deficit by promoting domestic manufacturing, but some executives question the rationale. Shotlist: Los Angeles, USA - Recent: 1. Various of cargo ship, containers, trucks at port; Los Angeles, USA - Aug 14-15, 2025 2. Various of guests including Francesca Ngo, vice president of Integrated Business Planning at Jazwares, at meeting; 3. SOUNDBITE (English) Francesca Ngo, vice president of Integrated Business Planning at Jazwares: "They have a long years of manufacturing. So, they have perfected in certain ways, right? And it's not just about people, it's also about the equipment, all machineries and all the networks that have been set up right with the transportation, the raw materials and sourcing. It's not just bringing manufacturing, it's very complex, you have to think beyond manufacturing. You basically have to bring all the components of supply chain back to the U.S. And I do question why would we want to do that."; 4. Various of guests, attendees at event; Los Angeles, USA - Recent 5. Various of crane handling containers at port; Los Angeles, USA - Aug 14-15, 2025 6. SOUNDBITE (English) Francesca Ngo, vice president of Integrated Business Planning at Jazwares: "I don't think it's the matter of whether we can do it in the U.S. or not. I think the question is why would we want to bring the manufacturing back to the U.S. When you're making consumer products that are five dollars or ten dollars, why would you bring that manufacturing back to the U.S. where our average salary and income and cost of labor doesn't justify."; 7. Various of gusts at summit, screen showing slide. [Restriction - No access Chinese mainland]
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