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Executives in the US have been using the buzzwords onshoring, reshoking or nearShoring at a greater clip this year than they did during the first six months of the pandemic. That’s according to Bloomberg review of earnings call and conference presentations. More importantly, there are concrete signs that many of them are going beyond just talk and acting on these plans. There are massive chip factories going up in Phoenix. Intel is building two just outside the city. Taiwan Semiconductor Manufacturing is constructing one in it. And aluminum and steel plants that are being erected across the south, including in Bay Minette, Alabama (Novelis); Osceola, Arkansas (US Steel); in Brandenburg, Kentucky (Nucor). The trend among American executives to shorten supply lines and bring production back home would prove short-lived, but two years in, not only is the trend still alive, it appears to be rapidly accelerating.

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