U.S. President Joe Biden delivers a speech during a visit to the Port of Baltimore, Maryland, U.S., November 10, 2021. REUTERS/Evelyn Hockstein
By David Shepardson
WASHINGTON, June 14 (Reuters) – U.S. President Joe Biden on Friday issued an executive order formalizing a White House council on supply chain resilience and mandating a comprehensive report by the end of the year, officials said.
The council made up of cabinet departments and other key officials first met in November 2023 as part of the administration’s efforts to improve supply chains upended by the COVID pandemic and address inflation.
The order reported earlier by Reuters requires the council to conduct a supply chain review of industries critical to national or economic security every four years and complete the first report no later than Dec. 31.
Commerce Secretary Gina Raimondo told Reuters on May 31 that supply chain issues remain a huge issue. Companies are “continuing to look through their supply chain and realizing massive vulnerabilities because key components are still sourced by one company in one country.”
Last year, Biden invoked the Cold War-era Defense Production Act to boost investment in U.S. manufacturing of medicines and medical supplies, one of a series of 30 measures the administration announced to help industrial supply chains and counter historically high inflation.
The council is directed to promote federal efforts “to strengthen long-term supply chain resilience and American industrial competitiveness; identify and provide a coordinated response to address supply chain insecurities, threats, and vulnerabilities, including excessive geographic or supplier concentration.”
White House National Economic Council director Lael Brainard told Reuters this week the administration’s supply chain collaboration “represents a real sea change in the way the federal government operates. Recognizing that we need to keep ongoing data on shipments and different areas where there might be frictions.”
She and Transportation Secretary Pete Buttigieg cited the council as a key factor in the quick reopening of the Baltimore shipping channel to service this week.
(Reporting by David Shepardson; Editing by David Gregorio)
(c) Copyright Thomson Reuters 2024.
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