June 21, 2021

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Economic recovery | Washington wants to tackle the temporary shortage

(New York) The White House has reaffirmed its commitment to address the temporary shortfall associated with a strong economic recovery in real estate, semiconductors, transportation and agribusiness.


France Media Agency

The epidemic has actually produced significant changes in supply and demand in these sectors, leading to short-term price increases and longer delivery times, which will reduce recovery.

“While we expect these hurdles to be temporary, the Biden administration is working to resolve them by using all tools to reduce the impact on the businesses of workers, consumers, families and others,” a White House official told a conference. Call.

Led by the Ministers of Trade, Transport and Agriculture, the Working Group is responsible for cooperating with all parties involved in “finding solutions” and “facilitating information sharing”.

The Ministry of Agriculture plans to allocate $ 4 billion for various initiatives to strengthen the food chain from production to consumption.

As requested by President Joe Biden in an executive order in February, various departments of the U.S. government have also identified a series of measures to address shortages of four key products: pharmaceuticals, vital minerals, and large batteries. Electric cars and semiconductors.

The Department of Health, for example, plans to spend $ 60 million to increase the production of active ingredients used in the manufacture of drugs.

To illustrate the vulnerabilities in the distribution chains of these products, government departments have suggested shifting the production of these essential commodities, contrary to the effective policies put forward by other countries.

A White House official said this was due to the geographical concentration of production of materials such as semiconductors or pharmaceuticals, as well as the lack of international cooperation.

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He said supply chain security would be on the agenda discussed during President Joe Biden’s visit to Europe. It is also expected to add a global forum to the supply chain.

The White House also plans to launch a new task force led by the US Trade Representative (USDR) to identify unfair trade practices in other countries.

The manager did not give an exact schedule.