GCTL8.com (FocusAsia Media Ltd)

CHICAGO, Jan 24 (FAM) – The new US administration may favour the use of positive incentives rather than wholesale punitive tariffs to encourage re-shoring and discourage the outsourcing of US manufacturing, according to a report yesterday in the Wall Street Journal (WSJ).

Although the new administration says its first trade action will be to withdraw from the multi-nation Trans-Pacific Partnership (TPP), as part of its ‘America First’ agenda, Wilbur Ross, the bankruptcy-turnaround investor nominated as secretary of commerce, has said he prefers to focus on boosting exports and using carrots to keep factory jobs in the US, the WSJ reports.