Jun, 2023
Two Years of Building Stronger Supply Chains and a More Resilient Economy
United States. White House Office
From the document: "The COVID-19 pandemic and resulting economic crisis significantly disrupted supply chains around the world, forcing many families to navigate empty store shelves, endure longer delivery times, and pay higher prices at the register. Supply chain bottlenecks for critical inputs, like semiconductors, exposed major U.S. economic and national security vulnerabilities, many of which were decades in the making. Pandemic-induced disruptions were exacerbated by Russia's unjust invasion of Ukraine, which further highlighted the dangers of overreliance on geographically concentrated production and far-flung, fragile supply chains. Together, the pandemic and the war contributed to a surge in input costs and inflation across many sectors of the economy. The Biden-Harris Administration made supply chain resilience and response a top priority on day one, collaborating with industry and labor to address acute shortages and bottlenecks throughout the economy. [...] Two years later, significant progress has been made in implementing the 100-day review's findings. More than 70 recommendations across the report have been completed to date - from providing financing across the full battery supply chain to leveraging the Defense Production Act in historic ways to diversifying supply chains by supporting small- and medium-sized businesses. Spurred by President Biden's Investing in America agenda, the private sector has invested over $470 billion in manufacturing of semiconductors, electric vehicles (EVs) and EV batteries, clean energy technologies, and pharmaceutical and medical products."
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URL
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Publisher
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DateJun, 2023
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CopyrightPublic Domain
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Retrieved FromThe White House: www.whitehouse.gov/
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Formatpdf
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Media Typeapplication/pdf
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