FACT SHEET: Summit on Global Supply Chain Resilience to Address Near-Term Bottlenecks and Tackle Long-Term Challenges

(Fact expanse provided to PoliticusUSA by the White House property office)

FACT SHEET: Summit connected Global Supply Chain Resilience to Address Near-Term Bottlenecks and Tackle Long-Term Challenges

President Biden announces caller home steps to proceed gathering proviso concatenation resilience

President Biden has made resilient proviso chains a apical precedence of his Administration since Day One. Today, the President is holding a Summit connected Global Supply Chain Resilience with the European Union and 14 like-minded countries to foster greater planetary practice connected near-term proviso concatenation disruptions and illustration a people to fortify and diversify the full proviso concatenation ecosystem implicit the agelong term—from earthy materials, intermediate and finished goods, manufacturing, to shipping, logistics, warehousing, and distribution. The President’s Summit builds connected caller Biden-Harris Administration actions including the enlargement of larboard operating hours connected the U.S. westbound coast, the launching of an Early Warning System for imaginable disruptions successful semiconductor manufacturing, including successful Asia, and this week’s Department of Energy announcement establishing Li-Bridge — a caller public-private confederation committed to accelerating improvement of a robust and unafraid home proviso concatenation for lithium-based batteries. Today’s announcements physique connected the Biden-Harris Administration’s ongoing enactment nether Executive Order (E.O.) 14017 to physique resilient proviso chains that the President issued successful February.

Joining the President astatine the Summit are Leaders and representatives from Australia, Canada, Democratic Republic of the Congo, the European Union, Germany, India, Indonesia, Japan, Mexico, Italy, Republic of Korea, Netherlands, Singapore, Spain, and the United Kingdom. They volition sermon however we tackle the contiguous proviso concatenation challenges from this unprecedented economical betterment and physique semipermanent proviso concatenation reliance for the future.

Today, the President besides announced caller home steps helium volition instrumentality to proceed gathering proviso concatenation resilience:

Streamlined U.S. Stockpiling Efforts: The President volition contented an Executive Order to streamline U.S. stockpiling efforts by delegating authorization to the Department of Defense to marque worldly releases from the National Defense Stockpile—allowing a speedier effect to worldly shortfalls wrong the defence concern base. This follows done connected a proposal made successful Executive Order 14017 connected America’s Supply Chains 100-day Report. The President volition telephone for countries astir the satellite to redouble their efforts to code shortfalls—especially those with nationalist information concerns.

Increased Funding for Trade Facilitation Activities to Cut Red Tape: The President announced accrued backing for 2 important initiatives to beforehand planetary proviso concatenation resilience among U.S. partners and allies. First, the State Department volition allot further backing to supply method assistance to Mexico and Central America counterparts to alleviate proviso concatenation disruptions and bottlenecks. Second, earlier this week astatine the U.S.-ASEAN Summit, the President announced millions successful backing for caller U.S.-ASEAN initiatives, which includes backing to nexus the ASEAN Single Window, a customs facilitation program, with the U.S. Single Window System. Both of these initiatives volition amended and simplify customs and clearance procedures, reducing delays and encouraging sustainable and businesslike proviso chains.

Future Multi-Stakeholder Summit: Recognizing that proviso chains person galore stakeholders—from backstage companies to workers and labour organizations to indigenous communities to world institutions—Secretary of State Antony Blinken and Secretary of Commerce Gina Raimondo volition clasp a multi-stakeholder acme adjacent twelvemonth on with their overseas counterparts. The acme volition beryllium a follow-on dialog to found adjacent steps among these parties to physique greater planetary proviso concatenation resilience.