On May 14, 2020, President Trump authorized the U.S. Int'l Dev. Fin. Corp. to invest in COVID-19 related projects located within the United States and its territories. The scope of this authorization is broad:
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[T]o make loans, make provision for purchases and commitments to purchase, and take additional actions to create, maintain, protect, expand, and restore the domestic industrial base capabilities, including supply chains within the United States and its territories ("domestic supply chains"), needed to respond to the COVID-19 outbreak.
To read the full order, see here.
Trump administration has issued or is considering other executive orders intended to either increase domestic production of critical materials and equipment, or prohibit use of such equipment and materials from countries determined to be hostile to U.S. interests. The U.S. Congress is also considering several pending bills that would encourage domestic production of critical medical supplies such as pharmaceuticals and medical supplies. This changed could dramatically change the business and regulatory environment for manufacturing and supply chain business.
If you would like additional information concerning these executive orders or other onshoring related legislation, please contact Peter Crofton or Greg Smith.
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