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White House to discuss supply chain review results, but there’s no ‘magic bullet’ for US reliance on China and other countries, Biden administration says
- Biden administration says it will discuss the results of a review examining America’s reliance on foreign countries such as China for critical products
- ‘Some very concrete solutions’ were identified in the semiconductor supply chain, says White House’s top economic adviser
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The Biden administration said on Friday it has found some concrete solutions in addressing America’s reliance on foreign countries such as China for critical products, but there is not an instant remedy to solve broad supply chain issues.
White House top economic adviser Brian Deese told reporters at a briefing that the administration will discuss supply chain problems more next week when the results of the 100-day review are released. The findings were due on Friday.
US President Joe Biden in February ordered federal agencies to look into how much they depend on imports for semiconductors, pharmaceuticals, automobile batteries and rare earth elements that are crucial to tech and defence. The agencies were also asked to find ways to increase domestic production in these four areas.
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Deese said to address the semiconductor supply chain problems, “we’ve been spending enormous amount of time with industry participants up and down the semiconductor supply chain” and “have identified some very concrete solutions”.
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The review will also address short-term bottlenecks seen in recent months in housing, construction materials, transport and logistics, said Deese.
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