Relocating our supply chains closer to home benefits the nation, but especially border...
U.S. President Joe Biden signs into law the CHIPS and Science Act in 2022. National security is first and foremost, but the act has incredible potential for nearshoring and boosting trade between Texas and Mexico.The pandemic made us all painfully aware of the risk of relying on goods and components from distant locations. Geopolitical shocks, such as the war in Ukraine and ongoing economic and political competition with China, highlight the importance of sourcing products closer to home.
In early January, the three North American heads of state met in Mexico City and agreed on the need to work together to foster regional integration, strengthen supply chains and attract investment in critical emerging technologies including semiconductors and electric vehicle batteries. The three heads of state published an aptly named statement, called DNA: The Declaration of North America.
The U.S. and Mexican business sectors have made progress promoting stronger and more competitive supply chains. They have launched initiatives focused on semiconductors, printed circuit boards, or PCBs, and medical equipment supply chains. Through the U.S.-Mexico CEO Dialogue, a binational private sector-led effort to produce policy recommendations to governments, U.S., Mexican, and foreign firms—such as the Taiwanese PCB leaders—are exploring investment opportunities in the PCB and medical equipment sectors in North America.
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