President Biden's administration recently finalized a new rule to require any goods purchased with federal funding to contain 75 percent U.S.-made content by 2029. Today, products qualify as Made in America for federal procurement if 55 percent of the value of their component parts are manufactured domestically. This final rule will increase that threshold to 60 percent in 2022, 65 percent in 2024 and 75 percent in 2029.
The new rule is a part of an executive order President Biden signed last year that directed the federal government to procure goods, products, materials and services from domestic sources whenever possible. The federal government currently spends more than $600 billion each year buying goods and services.
