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Joe Biden wants to expand Buy American protectionism program

2021-07-29T06:26:35.237Z

Under his predecessor Trump, "Buy American" was an empty promise, says US President Biden. The democrat has now introduced even stricter regulations for the preference for local products.



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Suitable backdrop: Biden performing in front of Mack Trucks workers

Photo: Matt Rourke / dpa

US President Joe Biden wants to support domestic industry with an expansion of the so-called Buy American program.

After months of negotiations between authorities and companies, new rules were presented on Wednesday that require suppliers to use more American-made components in their end products.

In a first step, the minimum share should increase from 55 to 60 percent and finally reach 75 percent by 2029.

Biden advertised his project in a truck factory of the manufacturer Mack Trucks in Pennsylvania, with which he benefits workers and unions.

There is a 60-day objection period before the new regulations are to take effect.

"Buy American" is often associated with the protectionist policies of Biden's Republican predecessor Donald Trump.

But the Democrat Biden wants to tighten the course.

With a view to Trump, Biden said that in the end the motto “Buy American” was just an empty promise.

"My government is going to make Buy American a reality."

Biden promised that compliance with the new rules would be strictly monitored.

The US government is the largest consumer goods buyer in the world.

Government agencies purchase $ 600 billion worth of goods and services annually.

dab / Reuters

Source: spiegel

All business articles on 2021-07-29

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