Is Mexico Winning Reshoring?

As companies continue to battle supply chain challenges reshoring continues to be a trend discussed in all sorts of industries. When reshoring is mentioned, it is normally in the context of reshoring to the country of the speaker. So, here, we tend to think of reshoring back to the United States. Certainly there are recent efforts to support reshoring to the United States. For example, on May 2, the United States announced a $3.1 billion plan to encourage domestic manufacturing of batteries. As we wrote just last week, battery demand is surging. Similarly, the United States continues to try to reshore as much microchip manufacturing as possible. Such stories suggest that the United States might be winning the reshoring battle to bring as much manufacturing back home as possible.