The Biden-Harris Administration is taking steps to enhance the cybersecurity of U.S. ports and strengthen the nation's maritime infrastructure. This includes issuing an Executive Order to address maritime cyber threats, implementing cybersecurity standards for American ports, and investing over $20 billion in U.S. port infrastructure. Additionally, the U.S. Coast Guard will issue a Maritime Security Directive on cyber risk management for cranes manufactured by the People’s Republic of China, and a Notice of Proposed Rulemaking on cybersecurity in the Marine Transportation System. The Administration aims to bring domestic onshore manufacturing capacity back to America to provide safe, secure cranes to U.S. ports, as part of its efforts to bolster supply chain resilience and national security.
European and U.S. retailers are implementing strategies such as carrying more stock, switching to local suppliers, and reducing dependence on China to build more resilient supply chains amidst disruptions in the Red Sea. With limited financial flexibility, retailers are wary of hiking prices and are absorbing higher transport costs. Some are using sea-air freight and limiting discounting to protect inventory, while others are considering "nearshoring" to source closer to their markets. However, the focus remains on cost management and maintaining profitability in the face of supply chain challenges.
One year after the CHIPS and Science Act was signed into law, the Biden-Harris Administration highlights significant progress in bringing semiconductor supply chains back to the United States, supporting innovation, and protecting national security. Companies have announced over $166 billion in investments in semiconductors and electronics, and at least 50 community colleges in 19 states have expanded programs to train American workers for jobs in the semiconductor industry. The Department of Commerce has launched funding opportunities, the Department of State is implementing the International Technology Security and Innovation Fund, and the Department of Defense is collaborating with the Department of Commerce to ensure the manufacturing of semiconductors essential to national security. Additionally, the administration is investing in workforce pipelines, establishing the National Semiconductor Technology Center, and supporting regional economic development and innovation.
