President Biden Signs EO to Strengthen Critical Supply Chains
On February 24, 2021, President Biden signed an executive order (EO) instituting a formal, whole-of-government strategy to develop more resilient and secure supply chains across the United States. The EO calls for a comprehensive review of domestic production, research and development capabilities, and the formulation of strategies to strengthen critical sectors. The intended outcome is to protect U.S. industries from “[p]andemics and other biological threats, cyber-attacks, climate shocks and extreme weather events, terrorist attacks, geopolitical and economic competition, and other conditions [that] can reduce critical manufacturing capacity and the availability and integrity of critical goods, products, and services.” The potential outcomes from the EO reviews could include: changes to domestic and international trade policy, implementing federal incentives and procurement, education and workforce reforms, changes in federal law and regulation, and engaging allies and partners to strengthen supply chains.
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