Over the past year, the fragility of vital supply chains has been revealed repeatedly.
President Joe Biden is preparing to sign an executive order to review U.S. supply chains for large-capacity batteries, pharmaceuticals, critical minerals, and semiconductors that power cars, phones, military equipment, and other goods.
Administration officials say that they plan to partner with industry and members of Congress as part of the effort and that no tool is off the table, including the use of the Defense Production Act.
Moody’s predicts that the chip shortage will cost Ford and General Motors about one-third of their pretax earnings this year.
This article was written by Josh Boak and Tom Krisher
To read the full article, please click on the following link: https://thediplomat.com/2021/02/biden-to-order-a-review-of-us-supply-chains-for-vital-goods/