President Trump rattled Wall Street when he demanded U.S. firms move production out of China. But some have already taken steps to do so, and, in earnings calls over the past month, dozens of chief executives have signaled plans to further diversify their supply chains amid the intensifying trade war.
CEO Gregory Johnson, for example, said that, while the car parts supplier is exploring alternate sourcing locations, it wouldn't be a short-term change because of the lack of capacity elsewhere.
"On the margin, I'm not aware of a single supplier who is not moving some form of manufacturing outside of China," But, over the past month, the pressure has intensified. As President Trump ratchets up his rhetoric, many American business leaders have taken to earnings conference calls to describe what they see as exigent circumstances. To adapt to an increasingly volatile playing field, executives are being pushed to rethink their supply chains.conducted in June by the U.S.-China Business Council, nearly 30% of the 220 respondents said they have already delayed or cancelled investments in China or the U.S.
"While China continues to be a priority market for most of the companies surveyed, market optimism is moderating," the survey noted. Of those companies that decided to reduce new investments, 60% cited increased costs or uncertainties from U.S.-China trade relations.
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