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Biden Signs Executive Order to Fortify Critical Supply Chains

February 24, 2021

President Joe Biden signed an executive order on Feb. 24 to bolster the resilience of supply chains for four critical industries following a slew of recent production shortages that have left the United States vulnerable. The executive order will begin a 100-day review of semiconductor chips, pharmaceuticals, rare earth minerals, and large capacity batteries used in electric vehicles. While White House officials on Tuesday said the action does not target any one country, it will direct the United States to diversify its supply chain reliance on China—one of the dominant players in the rare-earths and pharmaceutical fields. The measures come at a time when the pandemic has put a strain on the availability of personal protective equipment essential to frontline health workers, and a shortage of computer chips has forced automakers to cut production, highlighting the need for reshoring supply chains. The order will also call for a comprehensive one-year review … Read More

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