President Biden announces new national measures to continue building supply chain resilience
President Biden has made resilient supply chains a top priority of his administration from day one. Today, the President is hosting a Global Supply Chain Resilience Summit with the European Union and 14 like-minded countries to foster greater international cooperation on short-term supply chain disruptions and chart a course to strengthen and diversify the entire supply chain ecosystem over the long term – from raw materials, intermediate and finished products, manufacturing to shipping, logistics, warehousing and distribution. The president’s summit builds on recent actions by the Biden-Harris administration, including extending port hours on the west coast of the United States, launching an early warning system for potential disruptions in semiconductor manufacturing, including in Asia, and this week’s announcement from the Department of Energy establishing Li-Bridge – a new public-private alliance committed to accelerating the development of a chain of strong and secure national supply for lithium batteries. Today’s announcements build on the Biden-Harris administration’s ongoing work under Executive Order (EO) 14017 to build resilient supply chains that the president released in February.
Joining the President at the summit are leaders and representatives from Australia, Canada, Democratic Republic of Congo, European Union, Germany, India, Indonesia, Japan, from Mexico, Italy, the Republic of Korea, the Netherlands, Singapore, Spain and the United States. Kingdom. They will discuss how we are addressing the immediate supply chain challenges associated with this unprecedented economic recovery and long-term supply chain confidence for the future.
Today, the President also announced new national steps he will take to continue building supply chain resilience:
- Streamlined storage efforts in the United States: The President will issue an executive order to streamline the United States’ storage efforts by delegating to the Department of Defense the authority to release materials from the National Defense stockpile, which will allow for a faster response to material shortages within the defense industrial base. This follows a recommendation made in Executive Decree 14017 on American supply chains 100 day report. The president will call on countries around the world to redouble their efforts to close the gaps, especially those with national security concerns.
- Increased funding for trade facilitation activities to reduce bureaucracy: The President announced increased funding for two important initiatives aimed at promoting the resilience of the international supply chain among partners and allies of the United States. First, the State Department will allocate additional funds to provide technical assistance to counterparts in Mexico and Central America to mitigate supply chain disruptions and bottlenecks. Second, earlier this week at the US-ASEAN summit, the president announced millions of dollars in funding for new US-ASEAN initiatives, including funding to link the ASEAN Single Window, a program customs facilitation, to the US single window system. These two initiatives will improve and simplify customs and clearance procedures, reducing delays and encouraging sustainable and efficient supply chains.
- Future multi-stakeholder summit: Recognizing that supply chains have many stakeholders, from private companies to workers and labor organizations, from indigenous communities to academic institutions, Secretary of State Antony Blinken and Secretary of Commerce Gina Raimondo will organize a multi-stakeholder summit with their foreign counterparts. The summit will be a follow-up dialogue to establish the next steps between these parties to strengthen the resilience of the global supply chain.