Yellen urges less dependence on other nations for key supplies

Treasury Secretary Janet Yellen said the US should work on shifting dependence on some nations for supplies of critical inputs as global supply-chain logjams have hurt the domestic economy.

“We saw during the pandemic that our supply chains were very brittle and really lacking in resilience,” she said Monday. Yellen repeated her support for so-called friend-shoring, where supply chains are made up of “countries that espouse a common set of values.”