The SAFE Supply Chains Act, also known as Bill 118 s 4651, is a piece of legislation introduced in the US Congress aimed at ensuring the safety and security of supply chains in the United States. The bill focuses on addressing vulnerabilities in supply chains that could pose risks to national security, economic stability, and public health.
The main provisions of the SAFE Supply Chains Act include requiring companies to conduct risk assessments of their supply chains, particularly in critical industries such as healthcare, defense, and telecommunications. Companies would be required to identify potential risks such as reliance on foreign suppliers, cybersecurity threats, and disruptions due to natural disasters or pandemics.
The bill also calls for increased transparency in supply chains, with companies being required to report on the origin of their products and materials, as well as any potential human rights violations or environmental impacts associated with their supply chains. This information would be made available to the public and government agencies to ensure accountability and oversight.
Additionally, the SAFE Supply Chains Act includes measures to strengthen enforcement of supply chain regulations, including increased penalties for non-compliance and the establishment of a Supply Chain Security Council to coordinate efforts across government agencies.
Overall, the SAFE Supply Chains Act aims to enhance the resilience and security of supply chains in the United States, with a focus on protecting national interests and promoting responsible business practices.