Trade – Biden wants to tackle the issue of strengthening supply chains in Europe – Economy

Washington (AFP) – The US government wants to work more closely with partners and allies to reduce vulnerabilities in global supply chains to become more independent of competitors such as China.

A government official said Monday (local time) that President Joe Biden wants to put the topic on the agenda on his trip to Europe, which he leaves this week.

The background to this is a review of supply chains requested by Biden, which focused on semiconductors, large-capacity batteries, so-called rare earths, and pharmaceuticals. From the White House, he said, the pandemic and the resulting economic crisis have exposed structural weaknesses in national and international supply chains, threatening the economic and national security of the United States.

The lack of investment in the past, as well as unfair business practices in other countries and an economic model that was not oriented towards sustainability are to blame.

Bottlenecks in construction or semiconductors, among other things, will be dealt with in Washington by a new working group headed by the Department of Economy, Transportation, and Agriculture. The government is also working to establish a “trade force” in the US Trade Representative’s office to combat unfair trade practices.

© dpa-infocom, dpa: 210608-99-905590 / 2