This news summary is provided by Foley's Competitive Intelligence Team to inform business leaders of recent news and developments relevant to the Manufacturing Sector.
Analysis by Julie Dautermann, Competitive Intelligence Analyst
- The most recent article in Foley &
Lardner's Supply Chain Disruption
Series provides background on a number of key
terms and conditions for buyers and sellers in the supply
chain to consider in commercial forms. Click here to subscribe to
the article series.
Law reported on some of the challenges facing the
U.S. Securities and Exchange Commission in the
effort to finalize a proposed rule
requiring publicly-traded companies to disclose
- Over three hundred business and industry organizations are urging the Biden
Administration to work with railroad unions and
management to prevent a potential strike and ensure all parties
ratify a tentative agreement.
- The National Association of Manufacturers is
calling on Congress to repeal a recent tax code
change which requires U.S. businesses to spread deductions for
R&D expenses over a period of years. NAM indicated a previous
policy allowed businesses to deduct these expenses in the year the
- Cybersecurity is the top spending priority for CIOs in
2023, and 66% of respondents to an annual Gartner survey
of CIOs intend to increase investment in cybersecurity, according
to data excerpted in The Wall Street
- An analysis of labor
rates in 12 nations from The Reshoring Institute indicates
China has higher factory labor
costs when compared to production workers in Thailand,
Malaysia, Vietnam, Mexico and India. The report also notes lower
labor rates may be negated if a location does not have adequate
- China's share of global exports has
declined since 2016, and nations including Vietnam, Malaysia and
Bangladesh have increased their share of global exports for a
number of consumer goods, according to data from MDS Transmodal
excerpted in CNBC.
- The public comment period will close on November 7, 2022, for a
proposed rule from
the U.S. Environmental Protection Agency which
could designate PFOA and PFOS
chemicals as hazardous substances.
- Total U.S. construction starts fell 19% in September to a seasonally adjusted annual rate of $1.02 trillion, according to a report from Dodge Data & Analytics. Total construction starts for the first nine months of this year were 16% higher than the same period last year.
- Data from the International Federation
of Robotics indicates a half-million industrial robots
were installed globally last year, representing an
increase of 31% year-on-year. This surpasses previous levels of
installation, and the IFR estimates the pace of annual robot
installation has more than doubled within six years.
- The U.S. Department of Commerce released a National Strategy for Advanced Manufacturing, which includes objectives to increase the nation's advanced manufacturing workforce, accelerate innovation in areas such as microelectronics and semiconductors, and strengthen supply chains.
- Commitments to improve supply-chain
sustainability are likely to intensify, according to a new report from the Council of Supply
Chain Management Professionals and the MIT Center for
Transportation & Logistics.
- Certain sections of the Mississippi River are experiencing the lowest water levels in several decades, leading to potential delays for commercial traffic due to closures or shipping limitations.
International Trade and National Security
- The Biden Administration is reported to be
considering restrictions on imports of Russian
aluminum in response to recent military escalations in
Ukraine. According to a report in Bloomberg,
Russia represents an estimated 10% of aluminum imports into the
- The U.S. Trade Representative is seeking public input
in areas related to the effectiveness and economic impact of
Section 301 tariffs on Chinse imports. Comments
will be accepted November 15 through January 17, 2023.
- Recently announced restrictions on U.S. exports to China for certain types of semiconductors and semiconductor manufacturing equipment could reduce chipmakers' 2023 sales by as much as $7 billion, according to estimates from Bank of America excerpted in Bloomberg.
Sustainability and Product Stewardship
Law reports the U.S. Environmental Protection
Agency is expected to start releasing rules at the end of
this year which could increase oversight for instances of new uses
of 150 per- and polyfluoroalkyl substances (PFAS).
- As part of ongoing discussions pertaining to its draft climate reporting standards, the International Sustainability Standards Board voted in favor last month of requiring companies to report on the three levels of greenhouse gas emissions. The ISSB released drafts of the proposed requirements pertaining Scope 1 and Scope 2, as well as Scope 3 GHG emissions. The ISSB hopes to issue final standards in 2023.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.