• By The Financial District

BIDEN ORDERS REVIEW OF U.S. SUPPLY CHAIN TO LESSEN RELIANCE ON CHINA

President Joe Biden signed an executive order on Wednesday, February 25, 2021, for a 100-day review of global supply chains and potential US vulnerabilities in key industries including computer chips, electric vehicle batteries, pharmaceuticals and critical minerals used in electronics.

EON Reality is the global leader in Augmented and Virtual Reality-based knowledge and skills transfer for industry and education.

"We shouldn't have to rely on a foreign country, especially one that doesn't share interests or values, in order to protect and provide our people during a national emergency," Biden said.


It comes as American automakers grapple with a shortage of semiconductors, critical elements in navigation and entertainment systems in modern vehicles, Patsy Widakuswara reported for GlobalSecurity.org. On top of the 100-day review of the four key industries, Biden's order will also direct yearlong reviews for six sectors: defense, public health, information technology, transportation, energy and food production.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

China is reportedly looking into curbing exports of rare earth minerals that are crucial to US defense contractors that manufacture military weaponry.


China is the world's dominant producer of rare earths, a group of 17 minerals used in electric vehicles, consumer electronics and military equipment.


"While we call them rare earths as a share of the Earth's crust, they're not particularly rare," said Miller pointing to a US Geological Survey report of American states that have rare earth mineral deposits.


China dismissed efforts to shift US supply chains toward alternative sources as unrealistic, hitting back hours after President Joe Biden signed an order to review how America buys strategic goods, Lucille Liu, Jenny Leonard, and Jennifer Jacobs reported for Bloomberg.


Government & politics: Politicians, government officials and delegates standing in front of their country flags in a political event in the financial district.

Chinese Foreign Ministry spokesman Zhao Lijian made the remarks Thursday in response to a question about the order, which will cover chips along with large-capacity batteries, pharmaceuticals and critical minerals and strategic materials like rare earths.


Zhao said such measures “will not help solve domestic problems” and only harm global trade.


“China believes that artificial efforts to shift these chains and to decouple are not realistic,” Zhao told a regular news briefing in Beijing. “We hope the U.S. will earnestly respect market laws and free trade rules and uphold the safety and reliability and stability of global supply chains.”



WEEKLY FEATURE : BONNER DYTOC SHOWS THE WAY IN STOCK PLAY

Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.
EON Reality is the global leader in Augmented and Virtual Reality-based knowledge and skills transfer for industry and education.