Biden orders review of US supply chains after a year of shortages, delays

US Capitol

The signing of Wednesday's executive order comes after the world witnessed the reality of supply chain disruptions over the past year — from hospitals running low on PPE to automakers struggling to compete with technology companies for semiconductors.

"We heard horror stories of doctors and nurses wearing trash bags over their gown — over their dress in order to — so they wouldn't be in trouble, because they had no gowns," Biden said. "And they were rewashing and reusing their masks over and over again in the OR. That should never have never happened."

And the shortage of semiconductors means U.S. automakers could see their earnings fall by billions this year. Ford could see its earnings fall between $1 billion to $2.5 billion, while General Motors' earnings could slide $1.5 billion to $2 billion, according to a Moody's estimate emailed to Supply Chain Dive. On Wednesday, executive branch leaders, including Secretary of Transportation Pete Buttigieg, met with automakers.

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Source: Supply Chain Dive