Building Resilient Supply Chains, Revitalizing American Manufacturing, and Fostering Broad-Based Growth

The COVID-19 pandemic and resulting economic dislocation revealed long-standing vulnerabilities in our supply chains. The pandemic’s drastic impacts on demand patterns for a range of medical products including essential medicines wreaked havoc on the U.S. healthcare system. As the world shifted to work and learn from home, it created a global semiconductor chip shortage impacting automotive, industrial, and communications products, among others.

In February, extreme weather events—exacerbated by climate change—further exacerbated these shortages. In recent months the strong U.S. economic rebound and shifting demand patterns have strained supply chains in other key products, such as lumber, and increased strain on U.S. transportation and shipping networks.

 

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