Biden signs order on chips

President Biden on Wednesday signed an executive order meant to improve the supply chains of critical materials, including semiconductors, or chips.

The order requires a 100-day review of the supply chains for chips, large-capacity batteries used in electric vehicles, pharmaceuticals, and rare Earth minerals, along with sector-specific reviews over the next years in areas including defense, transportation and information technology.

Biden signed the order after meeting with a bipartisan group of lawmakers from the House and Senate on Wednesday, and amid efforts by Senate Majority Leader Chuck Schumer (D-N.Y.) to roll out bipartisan legislation to address competition with China on emerging technologies.