Biden's New Buy American Rules Aim to Create Manufacturing Jobs

President Biden strengthened “Buy American” provisions for government procurement with his signature Friday on new rules that will increase the threshold for the value of products to be considered American-made from the current 55% to 65% by 2024 and 75% by 2029. Proponents consider this a positive development for manufacturing and job-creation in the U.S., despite its inflationary effect on government spending.

“We strongly support efforts to ensure federal tax dollars are used to buy products made in America, including by increasing the value percentage for American-made content that the government must purchase. This initiative supports the domestic production of components critical to our national and economic security, which would include American steel,” said Kevin Dempsey, president and CEO of the American Iron and Steel Institute. “This will help maintain good-paying U.S. manufacturing jobs and, since the U.S. leads the world in clean steel production, benefit the environment as well. We appreciate the administration’s commitment to buy American products.”