President Joe Biden announced the creation of a new White House Council on Supply Chain Resilience on Monday, along with more than 30 new actions to strengthen U.S. supply chains.

The actions include investing in crucial supply chains, monitoring existing and emerging risks such as climate change, launching a supply chain review, and the use of the Defense Production Act to make more essential medicines in America and help mitigate drug shortages.

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"Robust supply chains are fundamental to a strong economy," the White House said in a statement. "When supply chains [run] smooth, prices fall for goods, food, and equipment, putting more money in the pockets of American families, workers, farmers, and entrepreneurs. That is why President Biden made supply chain resilience a priority from Day One of his Administration."

The new council will be co-chaired by national security adviser Jake Sullivan, and the national economic adviser.