US President Joe Biden is rolling out his long-promised plan for tougher enforcement of the protectionist provisions of the Buy American Act.
This tightening includes increasing the requirement for “domestic content” in federal infrastructure projects, a threshold that will increase from 55% today to 75% by 2029. Mr. Biden and the industrial giant Siemens also announced on Friday a $54 million project that will increase US production of critical electrical infrastructure.
The Biden government’s strategy will also allow it to use a new policy of pricing preference, which would promote growth in US supply for essential products and components.
Mr. Biden has made tougher enforcement of the long-standing Buy American provisions a central part of his campaign for president as well as his first year in the White House. His government says that effort is already bearing fruit across a range of industries, as companies expand operations in the United States to comply with the new framework.
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