Bloomberg News
@Bloomberg-News·2.8M subscribers·40.1K videos
Biden Orders Supply Chain Review to End U.S. Reliance on China
Posted
February 24, 2021
Views
3,546
Likes
47
Comments
116
Engagement
February 24, 2021
3,546
47
116
4.60%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
6:37Now PlayingPresident Joe Biden on Wednesday will order a government review of U.S. supply chains, seeking to end the country’s reliance on China and other adversaries for crucial goods.
But the process will take months, offering no immediate solution for a shortfall of semiconductors that’s idled auto production at several factories.
The administration’s 100-day review will cover chips but also include large-capacity batteries, pharmaceuticals and critical minerals and strategic materials like rare earths, according to a White House statement.
The issue has taken on urgency with a global chip shortage that’s forced some U.S. carmakers to idle plants. The supply disruptions threaten to harm U.S. economic growth and could lead to layoffs, prompting concern from the White House as Biden seeks to rebuild an economy battered by the coronavirus.
“This last year has shown the vulnerabilities we have with some of the supply chains,” Biden told reporters at the White House on Wednesday, as he described shortages of personal protective equipment amid the pandemic. The president also mentioned the impact of chip shortages on the auto industry, saying it’s “causing some lines to slow down” and “people might be laid off.”
Biden’s executive order isn’t aimed at China or any one country but instead focuses on diversifying supply more generally, according to White House officials who spoke on condition of anonymity. Still, they said an over-reliance on China and other adversaries for critical goods is a key risk that must be addressed.
Subscribe to our YouTube channel
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
To watch complete coverage on Bloomberg Quicktake 24/7, visit or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.
Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake
Connect with us on…
Breaking News on YouTube
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
