G20: Biden asks countries to 'bolster' national security stockpiles at supply chain event

As US President Joe Biden coordinated with the governmental leaders on shared interests at the crucial G20 Summit in Rome, he asked them to consider bolstering the stockpiles critical to national security in their respective countries. As he addressed an event about global supply chains during the G20 leaders summit with 14 countries and the European Union, the US President emphasised that like so many challenges of today, the issue of national security “isn’t a problem any one of our nations can solve through unilateral actions”. Biden noted that "coordination" is the key to addressing such emerging challenges, adding that this is precisely the reason that the countries had met for this crucial meet. 

“The best way to reduce current delays and build in greater resilience for the future is to work together across the entire supply chain, from raw materials to warehousing and distribution,” said US President Joe Biden, according to a White House release on October 31. 

Government plays 'a key role' in identifying supply chain risks, says Biden 

The US President highlighted that his country has been able to launch an early warning system to help get ahead of the global supply chain disruptions. “We began directing new investments to strengthen supply chains at home and to work with partners to bolster supply chains around the world,” he said. Stressing how vulnerable the lines of global commerce can be, the leader of the United States went on to add that during the COVID-19 pandemic, countries have seen delays and backlogs of goods — from automobiles to electronics, from shoes to furniture. He added that there was an urgent need to reduce these backlogs facing the world. 

“Many of our supply chains are almost entirely owned and operated by the private sector.  But government can play a key role identifying supply chain risks and bringing the different pieces and actors together to address these vulnerabilities,” US President Biden emphasised.

Announcing additional funding for the US allies and partners, Biden stated that he will cut port congestion by slashing red tape and reducing processing times so the goods can commute faster in and out of the United States. “And second, I’m signing an executive order that will strengthen our management of the United States defense stockpiles for minerals and materials,” said Biden. He also urged that the supply chain should be diverse and countries must not depend on any one single source, because that might cause a major failure; and manmade threats, including cyber and criminal attacks, like ransomware might pose greater