US President Joe Biden Signs Executive Order on Promoting Manufacturing as Vice-President Kamala Harris Looks on

Government issues buy ‘Made in America’ order to promote local manufacturing, procurement

*President Joe Biden has signed a new Executive Order aimed at ensuring small and medium-sized businesses have better access to information needed to bid for government contracts in the United States

Isola Moses | ConsumerConnect

In a strategic move to promote procurement of local products and boost domestic manufacturing in the country, United States (US) President Joe Biden has signed an Executive Order tightening government procurement rules

President Biden issued the order Monday, January 25, 2021, at a press conference in Washington, D.C., imposing tougher rules on government procurement practices to increase purchases of products made in the US.

Many have considered the measure as a step toward fulfilling the President’s earlier ‘Buy American campaign’ pledge to support local manufacturing.

The new policies will include tightening the government procurement rules to make it harder for Federal agencies to purchase imported products, revising the definition of American-made products and raising local-content requirements, The Wall Street Journal report said.

The fresh Executive Order likewise aims to ensure that small and midsize businesses will have better access to information needed to bid for government contracts.

Biden said: “Under the ‘Build Back Better’ recovery plan, we will invest hundreds of billions dollars in buying American products and materials to modernise our infrastructure and our competitive strength will increase in a competitive world.”

However, some economists and trade experts were reported to have interrogated the impact of such policies.

They cited the small size of the US Government procurement in the overall economy, and noted that risks might include higher prices and retaliation against the country’s exports.

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