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Reversal of Fortune

The foreign trade deficit is skyrocketing.

Steve Geary
By Steve GearyMay 22, 2021
Steve Geary
Steve Geary is adjunct faculty at the University of Tennessee's Haaslam College of Business and is a lecturer at The Gordon Institute at Tufts University. He is the President of the Supply Chain Visions family of companies, consultancies that work across the government sector. Steve is a contributing editor at DC Velocity, and editor-at-large for CSCMP's Supply Chain Quarterly.
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Former President Trump made “Buy American and Hire American” a priority.  During his administration, the United States made some progress.  Then the pandemic hit.

According to the U.S. Census Bureau, “The nation's international trade deficit in goods and services increased to $74.4 billion in March from $70.5 billion in February.”   That’s almost double what it was a year ago.  About three-quarters of that deficit is in consumer goods.

No wonder there is a container shortage.  No wonder we have port congestion.  The macro-economic measures tell the story.  President Biden talks about “resilient, diverse, and secure supply chain.”  Politicians can talk about it.  American industry needs to build it.

American supply chains are more vulnerable than ever.  Our supply chains are at risk.  The clock is ticking.
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steve geary on global logistics and risksupply chain risk management
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steve geary on global logistics and risksupply chain risk management

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