Biden allocates extra funding to help US, partners cut port congestion

“It’ll allow us—allow us to react and respond more quickly to shortfalls in the industrial base,” he told the Global Summit on Supply Chain Resilience recently.

The summit was convened on the margins of the G20 Summit in Rome by US President Joe Biden, and was attended by leaders of the European Union, the United Kingdom, Australia, Canada, Germany, Indonesia, Italy, Japan, the Netherlands, South Korea and Singapore.

“Supply chains are something that most of our citizens never think twice about until something goes wrong,” Biden told the summit.

“Ending the pandemic is the ultimate key to unlocking the disruptions we’re all contending with.  But we have to take action now, together with our partners in the private sector, to reduce the backlogs that we’re facing.  And then, we have to prevent this from happening again in the future,” he said.

“This pandemic won’t be the last global health crisis we face.  We also need to increase our resilience in the face of climate change, natural disasters, and even planned attacks,” he said. 

“Many of our supply chains are almost entirely owned and operated by the private sector.  But government can play a key role identifying supply chain risks and bringing the different pieces and actors together to address these vulnerabilities,” he said.

Just a few weeks ago, The United States was able to facilitate an agreement with key unions, retailers, and freight movers to begin operating two of the largest US ports that account for 40 per cent of the imports on the West Coast: the Port of Los Angeles and the Port of Long Beach, California, he said.

“I’m going to help get — it’s going to help get goods on the shelves faster.  And our Build Back Better framework provides, for the first time, funding dedicated to monitoring and strengthening supply chains,” Biden said.

He urged all participants to consider bolstering their stockpiles critical to national security in their countries. 

“The best way to reduce current delays and build in greater resilience for the future is to work together across the entire supply chain, from raw materials to warehousing and distribution.,” he said.

He directed his secretaries of state and commerce to chair a multi-stakeholder forum in the beginning of next year to bring all these key parties together with relevant officials from all governments to chart a path forward.

ALCHEMPro News Desk (DS)