Biden to order review of U.S. reliance on overseas supply chains for semiconductors, rare earths - CNBC




  • In US
  • 2021-02-18 17:08:08Z
  • By Reuters
 

(Reuters) - U.S. President Joe Biden will direct his administration to conduct a review of key U.S. supply chains including semiconductors, high-capacity batteries, medical supplies and rare earth metals, CNBC reported https://www.cnbc.com/2021/02/18/biden-to-order-supply-chain-review-to-assess-us-reliance-on-overseas-semiconductors.html on Thursday.

The White House plans to review gaps in domestic manufacturing and supply chains that are dominated by or run through "nations that are or are likely to become unfriendly or unstable," the CNBC report added, citing a draft of an executive order seen by the portal.

A White House spokesperson later told Reuters the information in the CNBC story did not reflect the current state of discussions. The White House spokesperson noted that its review will be aimed at ensuring these countries will not be able to weaponize U.S. supply chains against the United States.

According to the CNBC report, though the order does not mention China, the directive is likely in large part an effort by the administration to determine how reliant the U.S. economy and military are on Chinese exports.

The CNBC report added that the text of the executive order was being finalized and the ultimate language could vary from the current draft.

(Reporting by Aakriti Bhalla in Bengaluru and Andrea Shalal in Washington; Editing by David Gregorio; Editing by Chizu Nomiyama and David Gregorio)

COMMENTS

More Related News

Asian shares rise on hopes for US stimulus package
Asian shares rise on hopes for US stimulus package
  • US
  • 2021-03-01 03:42:48Z

Asian shares rose Monday on hopes for President Joe Biden's stimulus package and bargain-hunting after sell offs last week. Japan's benchmark Nikkei 225...

Asia markets stage rebound after last week
Asia markets stage rebound after last week's rout

Equities rose in Asia on Monday as investors took a breather following last week's heavy selling, with a drop in US Treasury yields giving markets some much-...

Biden defends workers
Biden defends workers' rights, warns of 'threats' as Amazon employees vote on union
  • US
  • 2021-03-01 03:17:28Z

President Joe Biden defended workers' right to unionize and urged them to "make your voice heard" in a video statement posted on Twitter on Sunday night, as ...

White House confirms Chicago US Attorney John Lausch to stay for now
White House confirms Chicago US Attorney John Lausch to stay for now

The White House waited until the eleventh hour before publicly confirming Sunday that Chicago's top federal prosecutor will not be forced to resign as...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: US