Biden To Announce Measures To Strengthen Supply Chains

14:00 ET 19:00 GMT: President Biden is shortly due to deliver remarks on new measures to bolster supply chains which the White House argues will address a primary driver of inflation – Biden’s most critical vulnerability. Livestream

• Measures will include a new intra-agency drive to bolster supply chains for critical goods, including medicines and will be overseen by a new White House ‘supply chain resilience coordinator’ and a new White House council.
• Biden will also announce a raft of executive actions which will allow the Department of Health and Human Services to use the Defense Production Act to invest in domestic manufacturing of essential medicines.
• White House National Economic Council Director Lael Brainard said: “We’re pleased with the progress on supply chains that was showing up in lower prices in everything from turkeys to gas prices this Thanksgiving, but we’re determined to keep working to bring down prices for American consumers.”
• The White House said in a statement: “As part of his Bidenomics agenda to lower costs for American families, President Biden is announcing nearly 30 new actions to strengthen supply chains critical to America’s economic and national security. These actions will help Americans get the products they need when they need them, enable reliable deliveries for businesses, strengthen our agriculture and food systems, and support good-paying, union jobs here at home.”
• A fact sheet on the new actions can be found here.