Biden’s EO on securing critical supply chains aims to ensure that America can withstand any crisis.
Today, President Biden signed an executive order on securing critical supply chains at the State Dining Room.
Earlier today, Biden said that “The last year has shown the vulnerability we have with some of the supply chains, including the PPE that we needed badly, but had to go abroad to get.”
Biden’s EO aims to ensure that American supply chains can withstand any crisis and can help build well-paying jobs for workers in the country. At the signing ceremony, Biden said that the United States should not be relying on foreign nations for critical supplies during crises, a vulnerability revealed by the COVID-19 pandemic.
According to Senior Director of International Economics and Competitiveness Peter Harrell, the EO will help prevent future problems in sectors spanning from pharmaceuticals to food and will begin by enforcing an immediate 100-day review of supply chains for critical products, like phone chips and batteries for electric cars.
Deputy Director of the National Economic Council Sameera Fazili added that the signing of the EO aims to invest in America's future by diversifying supplier networks. Today's initiative seeks to open jobs for communities of color and maintain the United State’s edge in scientific research.
The EO on supply chains will direct sector-specific reviews to be completed within one year of today’s signing. Harrell noted that these reviews would be focused “on defense, public health, and biological preparedness, information and communications technology, transportation, and energy and food production.”
American presidents have been promising factory jobs for decades. To measure this initiative's success, Fazili emphasized Biden’s approach of looking at the various solutions and how effective they are in each respective manufacturing sector.
“We’ll be using a mix of incentives to encourage production here, looking at ways to ensure their surge capacity available for things that might need to be ramped up quickly,” Harrell followed up.
Psaki mentioned that she does not know the specifics of the federal funding and budget that will be in place to increase the supply but reassures that there will be upcoming conversations with Congress.
Along with this, Fazili highlighted that the order would help President Biden’s promise to help the country “build back better." She framed the EO as being an opportunity to foster small business success and to expand and diversify the supplier network in the U.S.
“This work is going to require a new commitment to public-private partnerships. This is a real opportunity to invest in the future of America and build on our nation’s strengths,” Fazili concluded.
This afternoon, I’m signing an executive order to create more resilient and secure supply chains for critical and essential goods. Tune in. https://t.co/7LyrNa38H5— President Biden (@POTUS) February 24, 2021
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