(Washington) US President Joe Biden is rolling out his long-promised plan for tougher enforcement of the protectionist provisions of the Buy American Act.
Posted at 1:53 p.m.
This tightening includes increasing the requirement for “national content” in federal infrastructure projects, a threshold that will increase from 55% today to 75% by 2029.
Mr. Biden and industrial giant Siemens are also announcing a $54 million project on Friday to boost U.S. production of critical power infrastructure.
The Biden administration’s strategy will also allow the government to use a new preferential pricing policy, which would promote growth in U.S. supply for critical 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 administration 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.