Reshoring is the biggest story in American manufacturing right now. ISM says the sector just posted its third straight month of expansion — the strongest since 2022. GlobalFoundries is putting $16 billion into domestic chip production. Stellantis committed $13 billion. Johnson & Johnson, $55 billion. The SBA just launched a dedicated loan guarantee for manufacturers and waived fees for the first time.

The holiday lull is ending, but Q1 planning windows don’t reopen just because inboxes do. Transatlantic ocean rates remain stable in the low-to-mid $2,000s/FEU, air freight is easing toward the mid-$2/kg range, and limited Suez transits have resumed cautiously. Teams that waited through December still have options—but far less margin for error. Here’s what matters this week.