G20: Biden calls for measures to stem supply crisis

G20: Biden calls for measures to stem supply crisis

US President Joe Biden with his teammates in Rome during the G20 summit announced new measures to address supply chain bottlenecks caused by global difficulties.

The White House said in a statement that the president held a meeting to discuss “the global supply chain with the European Union and 14 other countries with similar interests.”

Its aim was to “promote greater international cooperation on short-term supply chain challenges and to consider the strengthening and diversification of this ecosystem in the long run, from raw materials to finished products, including logistics and distribution”. Government said.

Surrounded by other world leaders present at the G20, including the Indian prime minister, the president of South Korea and the prime minister of Australia, Biden told reporters in Rome that good supply conditions were important for “most citizens”.

The US government is facing global supply difficulties, with prices rising since the resumption of activity and fears of higher-than-expected inflation.

In particular, they announced additional funding for technical assistance to partners in Mexico and Central America to address logistical bottlenecks.

Biden said an executive order would also be signed to shorten the supply chain for military equipment and “respond more quickly to shortages.”

In addition, an international summit will be held next year with private companies, organizations and labor institutions, in the eyes of the United States, to promote supply chain restoration.

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About the author: Muhammad Wayne

Wayne is a reporter who covers everything from oil trading to China's biggest conglomerates and technology companies. Originally from Chicago, he is a graduate of New York University's business and economic reporting program.

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