February 7 marked the date for 2023’s presidential State of the Union address. That evening, President Joe Biden stood in front of Congress and, by way of broadcast, millions of Americans.
An issue that has haunted Biden’s presidency has been supply chain volatility. While presidents of yesteryears have had spars with the supply chain before, the Biden administration was dealt a particularly complex hand. From industry contract disputes to bizarre supply shortages, supply chain kinks will be a bolded point when reflecting on the context of events during the 46th president’s term.
America-first approach on manufacturing, production
Biden saved everyone the time, and likely the grief, of recounting the chaos smorgasbord unraveling over the last two years. Instead, he reflected on the steps his administration has taken to build a more resilient and self-reliant supply chain. In his words, rewriting the script of manufacturing and production.
“Where is it written that America can’t lead the world in manufacturing again? For too many decades, we imported products and exported jobs. Now, thanks to all we’ve done, we’re exporting U.S. products and creating American jobs.”
President Joe Biden, 2023 State of the Union Address
Several legislative highlights serve as the backdrop of the president’s touting. From the CHIPS and Science Act to the Inflation Reduction Act, infrastructure and investments in production were rolled out, much in tune with Biden’s hope of the U.S. becoming a global leader in manufacturing.
Billions in funding were pumped into domestic manufacturing projects as well as rewarding tax incentives for electric vehicle and component production (if made on American soil). In his address, Biden alluded to the “literal field of dreams” underway near Columbus, Ohio where Intel will build a large semiconductor factory. Semiconductors are one of the most crippling supply shortages global trade has experienced during the pandemic.
When said and done, the new campus is expected to employee 10,000 workers and, ultimately, help fortify the country against future supply chain disruptions.
Final Thoughts
Going forward, Biden emphasizes an America-first attitude regarding production. He proposed new standards that’d require all construction materials in federal infrastructure projects to be American made. All the bells and whistles, like lumber, glass, or cables, will be sourced from the homeland.
Altogether, Biden summed up his administration’s efforts as a “blue-collar blueprint to rebuild America”. From what we gather, the 46th president believes the best course of action to heal our supply chain is becoming more self-reliant and prioritize inhouse production over importing from global markets.
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