U.S. President Joe Biden unveiled several new steps the U.S. is taking to strengthen and streamline supply chains as he convened world leaders at the Group of 20 summit to discuss the bottlenecks hampering the global economy as it recovers from the coronavirus pandemic.
U.S. President Joe Biden on Sunday unveiled several new steps the U.S. is taking to strengthen and streamline supply chains as he convened world leaders at the Group of 20 summit to discuss the bottlenecks hampering the global economy as it recovers from the coronavirus pandemic.
"Supply chains are something that most of our citizens never think twice about until something goes wrong," Biden said. "It isn't a problem any one of our nations can solve through unilateral actions. Coordination is the key reason for this meeting." Supply chain issues have emerged as a point of economic and political pain for Biden, as the delays have contributed to inflation and potentially put a damper on holiday shopping. Republican lawmakers have cited the threat of inflation and supply chain challenges in critiquing Biden's economic leadership.
Separately, the State Department will also provide funding to assist Mexico and Central America in relieving supply chain disruptions and bottlenecks. This follows the recent U.S.-ASEAN summit where new funding was announced to simplify customs and clearance procedures.