Biden To Invoke Cold War-Era Law

  • President Joe Biden will invoke a Cold War-era measure to boost investment in U.S. manufacturing of medicines and medical supplies that he has deemed important for national defense, the White House said.
  • The announcement is part of a series of measures the Biden administration is unveiling on Monday to help industrial supply chains and counter several years of historically high inflation.
  • Biden will authorize the Department of Health and Human Services to use powers under the Cold War-era Defense Production Act to enable investments in “essential medicines,” the White House said in a statement.