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Biden Unveils Supply-Chain Plan to Boost Medicine, Chip Output

  • Commerce weighs launching probe that may result in tariffs
  • White House expects supply disruptions to be transitory
Bloomberg business news
Biden Begins 100-Day Review of Critical U.S. Supply Chains
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President Joe Biden released a multi-pronged strategy to secure critical supply chains in products ranging from medicines to microchips, and is also weighing a potential trade probe that could result in U.S. tariffs on certain magnet imports.

The administration will establish a supply-chain disruptions task force to address near-term bottlenecks that can affect the economic recovery. Secretary of Commerce Gina Raimondo, together with her transportation and agriculture counterparts Pete Buttigieg and Tom Vilsack, will lead the team that will focus on supply-demand mismatches in areas like homebuilding and construction, semiconductors, transportation, agriculture and food, administration officials told reporters.