Remarks by Deputy Secretary of Commerce Don Graves at the Aerospace Industries Association’s Supply Chain Fireside Chat

Remarks by Deputy Secretary of Commerce Don Graves at the Aerospace Industries Association’s Supply Chain Fireside Chat
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Tue, 06/20/2023 – 15:43

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Tuesday, June 20, 2023

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Don Graves

Thank you, Eric, for the kind introduction. I’m delighted to be here today. The Aerospace Industries Association is an important partner of the Commerce Department.

I know one issue on the front of everyone’s mind is supply chains. The Biden Administration is working hard to create a business environment that encourages reshoring of critical supply chain needs. The CHIPS and Science Act, the Bipartisan Infrastructure Law, and the Inflation Reduction Act are already working to rebuild our infrastructure, supply chains, and manufacturing here at home.

We also know that we cannot make, mine, or grow everything. Nor would we want to. That’s where discussions with partners and allies come in.

Commerce is leading the Administration’s effort to negotiate a first-of-its-kind supply chain agreement under the Indo-Pacific Economic Framework.  Last month, the IPEF partners announced the conclusion of negotiations on the supply chain agreement and are now working towards building a final text that is sure to revolutionize how we build collective understanding of supply chain risks and improve crisis coordination and response.

I’ve also had a chance to read the new AIA white paper on the critical minerals supply chain and appreciate the coordinated feedback that it provides on our vulnerabilities and possible ways forward.

The Commerce Department continues to play a central role in efforts to secure supply chains for critical minerals. Secretary Raimondo co-leads President Biden’s Supply Chain Disruptions Task Force, which is working to develop near-term and long-term policies to make our supply chain infrastructure resilient to future crises.

We also recently stood up the Office of Critical Minerals and Metals, which is leading the International Trade Administration’s efforts to address domestic and international supply chain weakness. And we established a new Industry Trade Advisory Committee on Critical Minerals and Non-Ferrous Metals to bring in valuable industry insights.

Put simply: we are not choosing between rebuilding our domestic manufacturing base or working with our partners to create better supply chains – we are doing both. Our vision for this work involves close partnership with industry, and we want to gather all of the good ideas we can as U.S. companies make historic investments in the resiliency of their supply chains.

Secretary Raimondo was on the Hill last month testifying on the Commerce Department’s proposed FY 2024 budget. Included in that proposal is a $21 million increase in our new supply chain resiliency office to codify, scale, and properly resource our ability to meet supply chain challenges. 

As we strive to secure the current and future supply chains of U.S. companies, we aim to anticipate and mitigate future challenges – to help ensure that the U.S. maintains secure and reliable access to the materials that are necessary to meet our needs, protect our security, and lead the industries of the future.

That’s why I’m looking forward to our conversation today with Eric and hearing more about the priorities of the aerospace industry. Thank you.

Bureaus and Offices

International Trade Administration

Tags

Aerospace
Supply Chain

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