2021-2024 Quadrennial Supply Chain Review , December , 2024
2021-2024 Quadrennial Supply Chain Review , December , 2024
From the report: “The United States is highly reliant on complex global supply chains, many of which are foundational to the U.S.’s economy and national security. Decades of globalization, efficiency efforts, and underinvestment in resilience have created structural risk in the way goods and inputs make their way to consumers and businesses. These supply chains have been severely tested in recent years—by pandemic, by conflict, and by natural disaster. In some cases, these shocks have forced government and private-sector actors to intervene to avoid major impacts. In others, these shocks have revealed dangerous vulnerabilities and created shortages that have harmed lives and livelihoods, interrupting commerce for both large and small businesses. In all such cases, the world has become more alert to the need for strong and reliable supply chains.
The U.S. Government, at the direction of President Biden and Vice President Harris, has responded to this challenge with a transformational focus on strengthening critical supply chains. In the early days of the Administration, during the throes of the COVID-19 pandemic’s disruptions, President Biden launched a whole-of-government effort to assess and to build the resilience of our most critical supply chains: energy, agricultural commodities and food products, medical products, information and communications technology, transportation, and defense. As this Review documents, this work has seen enormous success, thanks to renewed investment in American manufacturing in these sectors, stronger economic relationships with our allies and partners, and improved capabilities within the federal government to monitor and respond to shocks that can disrupt supply chains. Industry and state and local government partners have complemented this work with an invigorated focus on supply chains as well to help ensure that people can get what they need when they need it. Government and industry have found that strengthening supply chains through investment in domestic manufacturing and strategic industrial policy actions is effective and good for the economy—as particularly evidenced by the supply chain healing’s direct impact on bringing down inflation. Supply chain resilience is a shared priority with our allies and partners, too. It has become a common feature of diplomatic engagements, which have produced results and laid promising foundations for deeper collaboration and more tactical deliverables in the years ahead.”
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