The fast-moving coronavirus stemming from China could force companies to re-evaluate their supply chains, potentially returning some jobs to the United States, US Secretary of Commerce Wilbur Ross said on Thursday.
“THE OUTBREAK WILL HELP TO ACCELERATE THE RETURN OF JOBS TO US”
Ross expressed sympathy for victims of the virus and their families. “But the fact is, it does give businesses yet another thing to consider when they go through their review of their supply chain, on top of all the other things,” he told Fox Business Network in an interview.
“It’s another risk factor that people need to take into account, so I think it will help to accelerate the return of jobs to North America – some to the U.S., probably some to Mexico,” Ross added.
While the virus has yet to be declared a worldwide health emergency, it has threatened the global economy given China’s position as the world’s second-largest economy after the United States.