Biden Supply Chain 'Strike Force' To Target China On Trade

• The United States will target China with a new "strike force" to combat unfair trade practices, the Biden administration said on Tuesday, as it rolled out findings of a review of access to critical products, from semiconductors to electric-vehicle batteries. 
• The "supply chain trade strike force," led by the U.S. trade representative, is looking for specific violations that contributed to a hollowing out of supply chains that could be addressed with tariffs or other remedies, including toward China, White House senior director for international economics and competitiveness Peter Harrell told reporters. 
• Officials also said the Department of Commerce is considering initiating a Section 232 investigation into the national security impact of neodymium magnet imports used in motors and other industrial applications, which the United States largely obtains from China.  
• President Joe Biden ordered the review of critical supply chains in February, requiring executive agencies to report back within 100 days on risks to U.S. access to critical goods like those used in pharmaceuticals as well as rare earth minerals, for which the United States is dependent on overseas sources. 
• Though not explicitly directed at China, the review is part of a broader Biden administration strategy to shore up U.S. competitiveness in the face of challenges posed by the world's second-largest economy.

(Source: Reuters)