The NC Chamber Manufacturing Council held its second meeting on May 11, 2022 to talk about practical solutions for our state’s manufacturers in making their international supply chains more reliable and resilient while reducing costs and uncertainty. The Council, an exclusive benefit for Cornerstone members, was formed earlier this year to tackle timely topics with subject matter experts on industry issues including workforce skill shifts, future talent pipeline, supply chain complexities, and recent trade trends. As members of this influential group, manufacturers across state and sectors can network, share best practices, and provide feedback for the NC Chamber’s advocacy priorities and legislative agenda.
For this quarterly gathering, Jamieson Greer and Pat Togni, international trade partners at King & Spalding LLP, presented practical solutions for businesses enduring disruption to their international supply chains.
The packed agenda covered:
- Geopolitical risk for supply chains (with a focus on China)
- Optimizing an import strategy
- Protecting U.S. manufacturing
- Government incentives (including federal infrastructure funding)
- Building relationships with policymakers to secure certainty
Greer and Togni discussed the various reasons why geopolitical risk will continue to be very high: severe national security, economic, and human rights concerns; export controls on high-tech products; tariffs; IP theft; freight logistics are examples. The international trade experts also explained common duty-reduction tools such as:
- Free Trade Agreement qualification
- Lower-tariff jurisdictions
- Free Trade Zones
When addressing how to preserve our country’s manufacturing, Greer and Togni spoke about trade remedies including antidumping and countervailing duties. They also stressed that businesses should articulate how their goals connect with government goals. “Building relationships with appropriate policymakers (both political appointees and career civil servants) can help businesses shape the policy environment in a helpful way.”
The Manufacturing Council is an exclusive opportunity for NC Chamber members to communicate what they need to be successful. We hope that by providing a space for North Carolina’s manufacturers to express their short and long-term goals directly with the NC Chamber and their peers, the state’s vital manufacturing community will have the resources to thrive.