White House Introduces New Measures to Counter Inflation
U.S. President Joe Biden's efforts to fight inflation convened the first meeting of the "White House Council on Supply Chain Resilience" (Council on Supply Chain Resilience) on the 27th, announcing 30 specific measures to strengthen the supply chain in the hope of alleviating the burden of people's cost of living and invoking the Defense Production Act in the hope of alleviating drug shortages.
According to foreign news reports, Biden hosted a meeting on the supply chain, emphasizing that it was not just a single action, but one of a series of measures to combat high inflation. The 30 supply chain measures include semiconductors, renewable energy, and food products, as well as a $300 million restructuring subsidy for coal-mining regions. Biden also invoked the Defense Production Act to increase U.S. investment in pharmaceuticals and medical supplies, designating $35 million for medical supply production.
"The Council on Supply Chain Resilience, which reviews the supply chain every four years, will conduct its first review at the end of next year, periodically updating definitions and standards for key industries that are critical to U.S. national defense and economic security.
The U.S. government will improve its ability to control the supply chain through data sharing among government agencies. For example, the Department of Commerce is developing new tools to assess supply chain risks, the Department of Energy is collaborating with the Department of Energy on renewable energy supply, and shipping companies are beginning to utilize logistics information provided by the Department of Transportation.
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