Report issues recommendations for strengthening supply chains

A recently released Business Roundtable report outlines policy recommendations for strengthening and securing critical supply chains.

The report, Resilient, Diverse and Secure: Improving Critical Supply Chains, identifies dependencies in five strategically significant U.S. supply chains: agrochemicals, critical minerals, foundational semiconductors, synthetic active pharmaceutical ingredients, and printed circuit boards and printed circuit board assembly.

The report also included recommendations in four policy areas that underpin supply chain resiliency:

• Tax: Maintain a competitive tax code to ensure businesses continue to prioritize the United States for job creation.
• Regulation: Streamline regulatory frameworks and permitting processes to expedite market entry, foster innovation, and promote resiliency.
• Workforce: Modernize the public workforce development system to prepare workers for in-demand careers.
• Trade: Deepen economic integration through trade and investment agreements with priority partners.

“Securing and diversifying supply chains across our major industries is vital to protecting America’s workers, the economy, and our national interests,” said David A. Ricks, Eli Lilly and Company chairman and CEO and the Business Roundtable Board of Directors at-large member. “America must not overly depend on a single supply source or country. We need a more targeted approach to policy solutions that mitigates this risk, which in turn will enhance supply chain resilience, promote growth, and bolster American competitiveness.”

The report highlights the risks of relying on single sources for critical materials.

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