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Financial system8 minutes ago (Feb 02, 2021 03: 20PM ET)


© Reuters. President Biden arrives at the White Dwelling in Washington

By Michael Martina, Trevor Hunnicutt and Alexandra Alper

WASHINGTON (Reuters) – President Joe Biden is planning to desire an govt action mandating a assessment of essential U.S. offer chains with an behold to securing U.S. industrial gives from opponents along with China, in maintaining with four of us conversant within the subject.

The actions, which is able to point of interest both on government contractors and non-public trade, map to be clear the US can offer the products it needs to fight the COVID-19 disaster, as nicely as varied essential abilities and raw materials, the sources said.

Biden will signal an bid mandating a 100-day assessment to be determined that domestic producers can lift the country’s wished gives and that calls for for goods that must be joyful by varied worldwide locations are executed in a more stable and sustainable system.

That will be adopted by further assessment and actions taken by several govt department companies over a one-year duration, in maintaining with two of us conversant within the plans, one of whom read a draft of an bid Biden will signal.

One administration legitimate said the actions, which Biden promised on the campaign trip, would occur “within the weeks forward.”

The US has suffered a essential shortage of masks, testing gives and vaccine ingredients that hobbled its response to the COVID-19 pandemic.

A White Dwelling spokesman declined to comment.

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