President Joe Biden on Monday will convene the first meeting of his supply chain resilience council, using the event to announce 30 actions to improve access to medicine and needed economic data and other programs tied to the production and shipment of goods.
Quick Read
- Inaugural Meeting of Supply Chain Council: President Joe Biden is set to hold the first meeting of his supply chain resilience council.
- Announcement of 30 Actions: The meeting will include the announcement of 30 actions aimed at improving access to crucial medicines, economic data, and enhancing overall supply chain efficiency.
- Focus on Reducing Inflation: These measures are part of efforts to bring down consumer prices and address supply chain issues that contributed to higher inflation during the pandemic recovery.
- Use of Defense Production Act: Biden plans to invoke the Defense Production Act for the domestic production of medicines critical for national security, with an initial investment of $35 million for injectable medicine materials.
- Enhanced Supply Chain Monitoring: The federal government aims to improve supply chain monitoring through inter-agency data sharing. This includes new tools from the Commerce Department for supply chain risk assessment and collaborations with the Energy Department on renewable energy resources.
- Involvement of Shipping Companies: Shipping companies will utilize new resources from the Transportation Department to optimize freight logistics.
- Council Composition: The supply chain council is co-chaired by Lael Brainard and Jake Sullivan, with members including various Cabinet heads, the U.S. trade representative, and directors from national intelligence, budget, and technology offices.
The Associated Press has the story:
Biden to convene his new supply chain council, announce 30 steps to strengthen US logistics
Newslooks-WASHINGTON (AP)
President Joe Biden on Monday will convene the first meeting of his supply chain resilience council, using the event to announce 30 actions to improve access to medicine and needed economic data and other programs tied to the production and shipment of goods.
“We’re determined to keep working to bring down prices for American consumers and ensure the resilience of our supply chains for the future,” said Lael Brainard, director of the White House National Economic Council and a co-chair of the new supply chain council.
The announcement comes after supply chain problems fueled higher inflation as the United States recovered from the coronavirus pandemic in 2021. While consumer prices are down from last year’s peaks, polling shows that inflation remains a political challenge for Biden going into the 2024 presidential election.
Among the 30 new actions, Biden, a Democrat, will use the Defense Production Act to have the Health and Human Services Department invest in the domestic manufacturing of needed medicines that are deemed crucial for national security. The Cabinet agency has identified $35 million to invest in the production of materials for injectable medicines.
The federal government will also improve its ability to monitor supply chains through the sharing of data among agencies. The Commerce Department has developed new tools to assess risks to the supply chain and has partnered with the Energy Department on the supply of renewable energy resources. Shipping companies are beginning to use new data resources from the Transportation Department on freight logistics.
Besides Brainard, the council will be co-chaired by Jake Sullivan, the White House national security adviser. Other members include heads of Cabinet departments, the U.S. trade representative, the chair of the White House Council of Economic Advisers and the directors of National Intelligence, the Office of Management and Budget, and the Office of Science and Technology Policy.
