Action follows 100-day review of supply breakdown.
President Biden’s administration will outline new measures soon to address widespread supply-chain issues, with a goal of bringing manufacturing back to the U.S. and diversifying access to foreign-made materials such as rare-earth minerals used for batteries. The government’s steps will include the creation of a new supply-chain task force. The 100-day review the president ordered in February exposed problems that continue to affect key industries, including auto manufacturing.
“While amplified by the public health and economic crisis, decades of underinvestment and public-policy choices led to fragile supply chains across a range of sectors and products,” stated the White House in a document shared on Monday that summarized the review’s findings.. “At the same time, the reviews find that the United States is well-positioned to maintain and strengthen our innovative leadership and rebuild our productive capacity in key sectors and value chains.”
As the Lord Leads, Pray with Us…
- For the president and his advisors as they choose who will be on the task force.
- For wisdom for those appointed to the task force as they work on solutions to supply-chain issues.
- For wisdom for the president and his administration as they seek to resolve challenges to the nation’s economic recovery.
Sources: Wall Street Journal, Market Watch
