US officials work to close supply chain gaps as foreign investment grows

U.S. officials are collaborating with foreign investors to pinpoint weaknesses in the American manufacturing supply chain and support small- and medium-sized enterprises as investments from overseas surge, according to Assistant Secretary of the Treasury Chris Pilkerton and Small Business Administrator Kelly Loeffler. The surge in foreign investment, driven by President Donald Trump's tariffs on imports and deregulation, necessitates ensuring the availability of components.

Hanwha Philly Shipyard, acquired in December 2024 after review by the Committee on Foreign Investment in the U.S., plans to invest $5 billion over the next few years, potentially increasing employment from 2,000 to 10,000. The shipyard has already invested over $200 million to enhance its workforce, capabilities, and capacity, with over 1,000 suppliers for each ship.

A new program, the Strategic Vendor Program, aims to bolster domestic supply chains and support foreign-invested businesses, currently in a pilot phase.