Biden Signs Executive Order to Secure Anti-China Semiconductor and Rare Earth Supply Chains (Comprehensive)

Priority Targets Including Semiconductors, Batteries, Rare Earths, and Medical Supplies
"Close Cooperation with Trusted Partners Needed"

[Image source=EPA Yonhap News]

[Asia Economy New York=Special Correspondent Baek Jong-min] U.S. President Joe Biden signed an executive order to review the supply chains of key items such as semiconductors, rare earth elements, and batteries, emphasizing cooperation with allies. Although China was not mentioned, it is interpreted as a determination to protect the U.S. industrial base by uniting with allied countries in consideration of the possibility of China blocking supply chains.

On the 24th (local time), President Biden signed the executive order on supply chain review at the White House.

This executive order initially calls for a 100-day analysis of supply chains for semiconductors, electric vehicle batteries, rare earth elements, and medical supplies, followed by an expansion of the scope to include defense, health, energy, and transportation sectors.

President Biden made it clear that he will cooperate with allies to stabilize supply chains. He said, "Securing supply chain resilience is not only about increasing production in the United States but also about working closely with partner countries that share values and can be trusted."

This is interpreted as a call to reduce dependence on China, which holds a dominant position in rare earth elements, batteries, and medical supplies.

Before signing the order, President Biden gave a speech holding up a semiconductor chip, emphasizing the importance of semiconductors.

He stressed, "We recognize the semiconductor supply chain issues. It is not enough to solve problems after they occur. We must focus on research and development like in the 1960s to expand the manufacturing base."