President Joe Biden debuted his new Council on Supply Chain Resilience Monday and announced nearly 30 actions the White House will be taking to strengthen US supply chains and enhance national security.
The White House’s statement on the matter explained that the measures intend to “strengthen our agriculture and food systems,” “enable reliable deliveries for businesses,” and “support good-paying, union jobs here at home.” Among the 30 actions were “the use of the Defense Production Act to make more essential medicines in America and mitigate drug shortages” and “new cross-governmental supply chain data-sharing capabilities.”
Biden gave a speech to announce the new measures as well as the new supply chain council. He was joined by Transportation Secretary Pete Buttigieg, who explained that COVID-19 shortages were the impetus for the initiative.
Biden took to the podium with televisions displaying the words “BIDENOMICS – Lowering Costs” flanking him on either side. He began to list a series of initiatives his administration has undertaken, such as “cracking down on foreign-owned ocean shipping companies” that had “raised their prices by as much as 1000 percent while racking up enormous profits.”
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As a result of initiatives like these, Biden claimed, our supply chain is “stronger than ever” with supply chain bottlenecks and back logs at a 25-year low. Biden also claimed to have created 14 million new jobs including 800,000 manufacturing jobs, and said the unemployment rate has remained below 14 percent for the longest period in over 50 years. Finally, he claimed, wages have gone up while inflation has been reduced by 65 percent.
Biden acknowledged that prices are still very high for many products. To explain this, Biden said: “To any corporation that has not brought their prices back down, even as inflation has come back down, even as the supply chains have been rebuilt, it’s time to stop the price gauging and give the American consumer a break.”
That’s why, Biden said, he is attacking “junk fees,” alleged hidden fees that companies allegedly sneak into receipts to take extra money out of the hands of regular Americans. He claimed these fees are charged by banks, hotels, rental housing, health care, cable networks, internet providers, concerts, and airliners.
Biden reiterated that he is convening the supply chain council to ensure the country’s supply chains “remain secure, diversified, resilient, and do- into the future [sic].” He announced that he is having the council set up an alert system to highlight potential risks to America’s supply chain system ahead of time.
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