FASTER, PLEASE: Supply-Chain Decoupling From China Gets Sharper Teeth.

Two proposed laws in Europe are the latest case in point. The European Union proposed a ban on products made using forced labor last Wednesday. It doesn’t name China but alleged forced labor in the country’s Xinjiang region is clearly a main target. A few United Nations reports have added impetus in recent weeks. A U.N. expert published a report saying it is “reasonable to conclude” that forced labor has taken place in Xinjiang. And the U.N. human-rights agency said China has committed crimes against Uyghurs and other Muslim minorities. China denies such claims.

The proposed law looks less harsh than its U.S. equivalent. The U.S. legislation puts the onus on importers to prove that products from Xinjiang aren’t made with forced labor—an incredibly high bar. The EU proposal doesn’t. Products would only be blocked at the conclusion of an investigation. That, however, could change as the proposal needs approval from the Council of the European Union and the European Parliament.

It could be years before the proposal becomes law—but it will nonetheless add pressure for companies to reassess supply chains now, especially since the U.S. law is already in effect.

Plus: “All of this follows similar moves in the U.S. The healthcare, climate and tax law passed in August provides incentives for domestic manufacturing of clean-energy products such as batteries and solar panels. Washington is also implementing policies to encourage the onshoring of semiconductors and biotechnology.”

What we don’t need is more grift- and graft-filled federal “incentives” that never seem to do much but line pockets. What we need is serious deregulation, tax cuts, and a return to sound currency.