America's New Manufacturing Frontier: Bring It Home

In a strategic push aimed at revitalizing domestic manufacturing, US Commerce Secretary Howard Lutnick on Monday urged global businesses to set up operations in the United States. He offered the support of L-1 visas for companies wishing to bring employees stateside to kickstart projects.

Addressing the SelectUSA Investment Summit in Maryland, Lutnick emphasized a pivot from the past practices of outsourcing, asserting that the successful pathway to sell in the American market lies in producing locally. 'If you want to access our markets, build here,' Lutnick declared, underlining a shift in trade agendas aimed at bolstering the industrial base.

The initiative is backed by notable successes, with the Summit facilitating $139 billion in deals, benefiting local communities with jobs and tax revenues. 'That's what America first means,' Lutnick remarked, highlighting confidence in the economic potential of onshore manufacturing.

(With inputs from agencies.)