; and (B) guide investment decisions; (2) convene interagency and public-private working groups to align Federal policies that drive implementation of the national strategic plan required under section 204; (3) initiate and support translational research in engineering and manufacturing by entering into contracts or making other arrangements (including grants, awards, cooperative agreements, loans, and other forms of assistance) to study that research and to assess the impact of that research on the economic well-being, climate and environmental impact, public health, and national security of the United States; (4) advise the President on the extent to which the various programs, policies, and activities of the Federal Government are likely to affect the achievement of priority goals of the United States described in section 102(a); (5) provide the President with— (A) periodic reviews of Federal statutes and regulations that affect manufacturing and industrial innovation activities conducted by the Federal Government or the private sector, or which may interfere with desirable technological innovation; and (B) recommendations for the elimination, reform, or updating of such Federal statutes and regulations, as appropriate; (6) periodically survey the nature and needs of the policies relating to national manufacturing and industrial innovation and make recommendations to the President, for review and submission to Congress, for the timely and appropriate revision of the manufacturing and industrial innovation policies of the Federal Government; (7) perform such other duties and functions and make and furnish such studies and reports thereon, and recommendations with respect to matters of policy and legislation as the President may request