tv President Biden Executive Order on Economy CSPAN February 25, 2021 3:57am-4:11am EST
pres. biden: good afternoon. the vice president and i had a very productive meeting with a bipartisan group of senators and house members to address an issue of both concern to our economic security as well as our national security. the resilience and reliability of our critical supply chains. this is a critical area where republicans and democrats agreed it was one of the best meetings
we have had so far and we have only been here about five weeks. just like the old days. people are actually on the same page. there were's -- good bipartisan work has already been done. the house and the senate already have done great work. i want to thank them for their leadership. we are here to build on that. the bottom line is simple. the american people should never face shortages in the goods and services they rely on whether that is their car, their prescription medicines, or the food at the local grocery store. and remember, the shortages in ppe during the pandemic, that meant we did not have masks. we did not have gowns or gloves to protect our frontline health care workers. we heard horror stories of doctors and nurses wearing trash bags so they would not be in trouble. because they had no gowns. they were we washing and reusing
-- they were re-washing and abusing their masks in the or. this will never happen again in the united states. we should not have to rely on a foreign country, especially one that does not share our values, in order to provide -- and protect our people during a national emergency. that is why one of the first executive orders i signed was to ensure we are manufacturing more protective equipment for health-care workers here at home. today, i'm going to be signing another executive order that will help address the vulnerabilities in our supply chains across additional critical sectors of our economy so the american people are prepared to withstand any crisis and rely on ourselves. miss about making sure the united states can meet any challenge we face in this new era. pandemics but also on defense, climate change and so much more. the best way to do that is by
protecting and sharpening america's competitive edge by investing here at home. as i have said from the beginning, we are going to invest in america. we are going to invest in american workers and we can be in budget better position to compete. resilient, diverse, secure supply chains are going to help revitalize our domestic manufacturing capacity and create good paying jobs. not $15 an hour, which is what we need to do someday, but jobs that are at the prevailing wage. we are going to spur new opportunities for small businesses, communities of color in economically distressed areas. i will drive new investment in research and innovation in our workforce, investing in training and university partnerships that will lead to new technologies and solutions. all of this will not just strengthen our domestic capacity. it will help unleash new markets
around the world and grow opportunities for american businesses to export their goods we are going to be making. these are the kind of commonsense solutions all americans can get behind. workers and corporate leaders, republicans and democrats. it is about resilience, identifying possible points of vulnerabilities in our supply chains and making sure we have backup alternatives or work on -- or workarounds in place. remember the old proverb, for want of a nail, a she was lost. for want of a shoe, the horse was lost. it goes all and on -- on and on until the kingdom was lost. even small failures at one point in the supply chain can cause outside impacts further up the chain. we have seen how a shortage in computer chips like the one i have here, you can hardly see it , i imagine. it is called a semi conductor.
it has caused delays in the production of automobiles. a 21st-century horseshoe nail. this semi conductor is smaller than a postage stamp but has more than a billion transistors. 8 billion transistors. 10,000 times thinner than a single human hair in this one ship. these chips are a wonder of human innovation and design and enable so much of our modern lives. not just our cars but are smartphones, televisions, radios, medical diagnostic equipment and so much more. we need to make sure these supply chains are secure and reliable. i am directing senior officials to work with industrial leaders to identify solutions to this semi conductor shortfall and work hard with the house and senate. they have authorized a bill but they need $37 billion short-term to make sure we have this
capacity. we all recognize that the particular problem will not be solved immediately. in the meantime, we are reaching out to our allies. semi conductor companies and others in the supply chain to ramp up production to help us resolve the bottlenecks we face now. we need to stop playing catch-up. after the supply chain crisis hit, we need to prevent the supply chain crisis from hitting in the first place. in some cases, building resilience will mean increasing our production of certain types of elements here at home. for others, it will mean working more closely with trusted friends and partners. nations that share our values so our supply chains cannot be used against us as leverage. it will mean identifying and building surge capacity that can be quickly turned into an ramped up production in times of emergency. it will mean investing in research and development like we did in the 1960's to ensure
long-term competitiveness in our manufacturing base in the decade ahead. the order i'm about to sign does two things. orders a 100 day review of four vital products. semi conductors, key minerals and materials like where earth that are use -- legal errors that are used to make everything from harder still to airplanes, pharmaceuticals and their ingredients, advance batteries like the ones used in a letter vehicles. -- in electric vehicles. there is strong bipartisan support because they are essential to protecting american competitiveness. second, this order initiates a long-term review of the industry bases of six sectors of our overall economy over the next year. these reviews will identify policy recommendations to 40 of
our -- to fortify our supply chains at every step and critically to start implementing those recommendations it away. we are now going to wait for a review to be completed before we start closing existing gaps. as we implement this work, my administration will draw on a full range of american talent including labor and industry leaders, policy experts, scientists, farmers and engineers to get their input. i am grateful for the members of congress who came to see me. republican leaders as well as democrats. they are leading the way. we are going to stay in close contact with members of both sides of the aisle and keep advancing our shared goals. everyone has a role to play to strengthen our supply chain in our country. this is the united states of america. we are better prepared to meet the challenges of the 21st century than any country in the world. there is nothing, nothing we
have ever failed to achieve if we work together. that is what we decided to do to today. that is what we are going to do, work together. i am optimistic about the meeting we had today with our congressional colleagues and now i'm going to walk over and sign that executive order. thank you all very much. >> [indiscernible]
pres. biden: i am, but i do not so much blame it on the senate. i blame it on the failure to have a transition that was rational. as you know, previous administrations had a significant number of their cabinet confirmed before being sworn in. that is the tradition. we are doing fine. i think we are going to be in good shape. thank you. >> [indiscernible] have you read the jamal khashoggi report yet? pres. biden: yes, i have.