Biden's latest executive action comes as a global semiconductor shortage takes a heavy toll on automakers, with American giants such as Ford Motor and General Motors projecting billions in lost earnings this year due to reduced output. pic.twitter.com/sX1Pii94rH

— Nikkei Asia (@NikkeiAsia) February 25, 2021

One aspect the Biden administration has highlighted is Washington's intention to work with like-minded partners and allies to build resilience in technology supply chains.https://t.co/QFgDEw0Ea6

— Nikkei Asia (@NikkeiAsia) February 25, 2021

In semiconductors and EV batteries, this likely means working with Taiwan, Japan and South Korea.

In rare-earth minerals, the U.S. has been teaming with Australia to challenge the dominance of China. https://t.co/enGjb1k5hR #USChina pic.twitter.com/lwZN85skCd

— Nikkei Asia (@NikkeiAsia) February 25, 2021

The U.S. imports about 80% of its rare earths from China, and relies on the country for as much as 90% of some medical products. #USChina https://t.co/oHvcgUpvX9 pic.twitter.com/74MhoJtAgP

— Nikkei Asia (@NikkeiAsia) February 25, 2021