Biden To Create 'Supply Chain Disruptions Taskforce' Amidst Chip Shortage

The Department of Commerce has issued a press release stating that the Biden administration is set to create a 'Supply Chain Disruptions Taskforce' in order to, "provide a whole-of-government response to address near-term supply chain challenges to the economic recovery. The Task Force will be led by the Secretaries of Commerce, Transportation, and Agriculture. Additionally, the Department of Commerce will launch a new data hub to monitor near-term supply chain vulnerabilities..."

• Link to press release: https://www.commerce.gov/news/press-releases/2021/...
• The supply of chips and semiconductors has become a major global trade issue amidst what could prove to be multi-year production squeezes at facilities in the far East, primarily Taiwan.
• The Endless Frontiers Act, set to be taken up by the Senate once again today, is part of a USD110bn plan to improve US competitiveness in high-tech areas, including semiconductor production. However, this is a multi-year plan and something that would not be able to resolve the supply drought being experienced at present.