Supply Chain Summit Coming to D.C. This Fall

Aug. 8, 2024
By: Hannah B. Kreinik

The Department of Commerce and Council on Foreign Relations have announced a supply chain summit that will take place in Washington D.C. on September 10^th. The summit, which will be held at the Council on Foreign Relations, will be a kickoff point for supply chain resiliency and guidance for tackling supply chain fumbles. Supply chain sustainability has been a topic on the rise, please click here to see our latest report on the supply chain issue.

The government is looking to “huddle up” with industry, academia, and society at the summit to have a public forum on limiting supply chain risks. One of the other goals for the summit is to focus on how supply chain rebuilding can benefit the domestic economy and American workers. It has also been reported that the Commerce Supply Chain Center will be revealing the two supply chain mechanisms it has been working on. The Center has been developing a risk assessment framework with multiple criteria to determine supply chain issues for the U.S., with the tool’s public comment period already closed. Secondly, the Center is promoting an active dashboard tool with several datapoints that investigates business risk to supply chain interruptions for the U.S. and its trade allies. A full agenda for the summit is likely to be released later in the month.

The global pandemic made clear how important supply chain resiliency is. In addition, countries are closely tracking China’s supply chain monopoly for critical minerals as well as business utilization of Uyghur forced labor in production lines. Supply chain integrity is key for importers right now, with the supply chain summit bringing together important players for drafting with the goal of producing stronger supply chain results and transparency. The attorneys at Barnes, Richardson & Colburn are here to help your team reach a supply chain compliance victory.