US Lays Out Plans To Strengthen Supply Chains

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The administration of US President Joe Biden has unveiled plans to strengthen the country's supply chains for chips and other critical technologies and resources. The plans are based on an executive order that Biden signed in February. The administration points out that the US share of global semiconductor production has fallen to just 12 percent. That is down from 37 percent two decades ago. It plans to urge Congress to agree to 50 billion dollars in spending to support production and research and development in the industry. The administration will seek the cooperation of allies such as Japan and South Korea. It will step up support for development of electric vehicle batteries, and mining and production of rare earth metals. It will promote domestic manufacture of pharmaceutical products and designate up to 100 items as key. It says it will seek multilateral cooperation to respond to unfair trade practices that harm its domestic industries.

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