Walmart Says US Manufacturing Keeps Supply Chain ‘Flexible and Dynamic’
Walmart reportedly plans to boost its investment in U.S. manufacturing.
The company is investing in a new beef processing plant in Kansas that will create 600 jobs and recently partnered with USAntibiotics to make products like amoxicillin in the United States, Walmart U.S. CEO John Furner said, according to a report from CNBC.
Speaking Wednesday (Oct. 15) at CNBC’s Invest in America Forum, Furner said these products will join the nearly two-thirds of products sold by Walmart that are made grown or assembled in the U.S., according to the report.
“Investing in U.S. manufacturing and U.S. operations, sure, it’s great for business, but it’s also great for employment,” Furner said, per the report. “It’s great for jobs. It’s great for the country, and it helps us with our supply chain being flexible and dynamic.”
Pfizer CEO Albert Bourla, who also spoke at CNBC’s Invest in America Forum, said Pfizer will make additional investments in U.S. manufacturing as part of a deal with the Trump administration that gives the company a three-year exemption from pharmaceutical-specific tariffs together with greater certainty around pricing, Medicaid reimbursements and distribution, according to another CNBC report.
Bourla also said the U.S. should improve its productivity and innovation in biotechnology and pharmaceuticals.
“We need to have regulatory changes here,” Bourla said, per the report. “We need to have stability. Tariffs and pricing was not helping.”
Treasury Secretary Scott Bessent said during CNBC’s Invest in America Forum that President Donald Trump’s policies around trade, taxes and tariffs have helped make it known that “America’s open for business,” according to a transcript posted Wednesday by CNBC.
“Do your business here, we will give you energy, tax certainty. We’re the biggest market in the world. We’re going to give you regulatory certainty,” Bessent said.
PYMNTS reported in June that in mid-May, 5.9% of U.S. firms with at least $1 billion in annual revenues replaced their foreign suppliers with domestic suppliers, and that in April, 9.1% reported having done so.
In addition, among companies that hadn’t taken that step, fewer than three in 10 said in May that they might do so, down from 36.7% the month before.
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