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On heels of protectionist state of the union, Biden rolls out Buy American revamp

The Canadian Press
On heels of protectionist state of the union, Biden rolls out Buy American revamp

WASHINGTON – U.S. President Joe Biden is rolling out his long-promised plan for more stringent enforcement of the country’s Buy American rules.

It includes increasing the requirement for domestic content in federal infrastructure projects to 75 per cent by 2029, up from the current 55 per cent.

Biden and industrial manufacturing titan Siemens are also announcing a $54-million project to increase U.S. production of critical electrical infrastructure.

The strategy will also allow the government to use enhanced price preferences that would foster the growth of domestic supplies for mission-critical products and components.

Biden made more robust enforcement of the country’s long-standing Buy American laws a central component of his election campaign, as well as his first year in office.

The White House says that effort is already paying dividends across a range of industries as companies expand their U.S. operations in order to comply with the new framework.

©2022 The Canadian Press

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