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New Council Aims to Bolster Supply Chains

President Biden has launched a new supply chain council intended to make the delivery of goods more efficient and resilient, CNBC reports.

What’s going on: On Monday, President Biden convened the new supply chain council and announced 30 policy initiatives the group will take “to improve access to medicine and needed economic data and other programs tied to the production and shipment of goods.”

What’s in it: The council’s action items span industries and include:

  • Increasing engagement with allies and partners, including through deepened “international early warning systems to detect and respond to supply chain disruptions in critical sectors with allies and partners,” according to the White House.
  • “Invest[ing] in the domestic manufacturing of needed medicines that are deemed crucial for national security,” according to CNBC; and
  • Funding by the Energy Department of “up to $10 million for a ‘critical mineral accelerator’ and a $5.6 million prize to develop circular clean energy supply chains,” according to E&E News PM.

Why it’s important: The Biden administration is hoping to avoid a repeat of the supply chain disruptions caused by the global pandemic.

  • “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 White House National Economic Council Director Lael Brainard, who will co-chair the new council White House National Security Adviser Jake Sullivan.
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