Lockdowns, land wars, and rising costs had companies scrambling to keep sourcing intact in 2022. Is reshoring the key to unlocking international trade challenges? By Helen Mann
F ollowing World War II, international trade blossomed. Twenty-three countries—including the United States—signed the 1947 General Agreement on Tariffs and Trade, which lowered tariffs and reduced trade barriers between developed countries. Further negotiations would entrench equal trading terms between signatories and foster an environment of general economic cooperation in the following years. Fast forward to 2023, and that momentum may have devolved into gridlock. Retaliatory tariffs, sanctions, political instability, and in ation are all creating roadblocks to international trade. As supply chains spread across the globe, disruptions have become a near constant. In 2021, pandemic policies and transportation shortages roiled inventory management practices. Prior to the pandemic, a trade war between the United States and China made it more costly to bring goods over the border. Before that, Brexit spawned uncertainty. Black swan events aren’t going anywhere, and a disruption in one corner of the planet can have global reverberations. What, if anything, can business logistics professionals do to keep goods owing?
January 2023 • Inbound Logistics 179
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