Biden tightens 'Made in America' loophole to boost domestic manufacturing [View all]

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By Oliver Willis -March 4, 2022 1:17 PM

Currently products only have to be composed of 55% American materials to qualify as 'Made in America.'

The Biden administration on Friday announced that it had updated the rules for implementing the provisions of the Buy American Act of 1933 "to ensure taxpayer dollars create good-paying jobs here at home, strengthen critical supply chains, and position U.S. businesses to compete in strategic industries."

The Buy American Act requires the federal government to give preference to products made in the United States in its purchases. To qualify as domestically produced, a product must be manufactured in the United States, and components totaling at at least 55% of its overall value must also be manufactured in the country.

The administration's final rule will raise the percentage of the content that must be manufactured in the United States for an item to qualify as "Made in America" from the current level of 55% to 75% over the course of seven years.

Published with permission of The American Independent Foundation.

https://americanindependent.com/joe-biden-buy-american-act-donald-trump-manufacturing/