WASHINGTON, Feb. 24 (Xinhua) -- U.S. President Joe Biden on Wednesday signed an executive order directing a review of supply chains for key products and sectors to address vulnerabilities and risks in U.S. supply chains, which business insiders hope will not result in new trade barriers.
The order directs an immediate 100-day review across federal agencies to address vulnerabilities in the supply chains of pharmaceuticals, critical minerals, semiconductors and large-capacity batteries, according to the White House.
It also calls for a one-year review of supply chain risks in six key sectors of the overall economy, specifically the sectors of the defense, energy, transportation, public health, information communications technology, agricultural commodities and food production.
"Resilient, diverse, and secure supply chains are going to help revitalize our domestic manufacturing capacity and create good-paying jobs," Biden said at the White House before signing the order, adding the government is reaching out to U.S. allies and semiconductor companies to identify solutions to the current shortages of semiconductor chips, which have forced slowdowns at U.S. car manufacturing plants.
Christopher Roberti, senior vice president for cyber, intelligence and supply chain security policy at the U.S. Chamber of Commerce, said Wednesday that the chamber hopes the administration will engage closely with the private sector to ensure that any policy recommendations "reject punitive approaches, new trade barriers, and one-size-fits-all solutions." Enditem