Donald Trump is doing everything he can to boost the American economy, and he wants all the benefits to go to the American people.
His plan for “Buy American, Hire American” is already working wonders, but he wants to do more.
He just signed a new executive order with that goal in mind.
The Epoch Times reports:
Trump to Boost Domestic Content for Made in America
As part of the “Buy American, Hire American” initiative, President Donald Trump signed an executive order on July 15 aimed to increase the domestic content threshold for U.S.-made products.
“The philosophy of my administration is simple: If we can build it, grow it, or make it in the United States, we will,” Trump said during his speech at the “Made in America” event hosted by the White House.
The new executive order will eventually raise the domestic content threshold up to “75 percent and above so that domestic goods will have to have 75 percent American” parts to be considered “Made in USA,” Trump said.
Currently, for government procurement purposes, a product is considered U.S.-made if at least 50 percent of its components by value are domestically sourced, according to the Buy American Act.
In addition, the new executive order aims to increase the domestic content threshold for U.S.-made iron and steel to 95 percent from 50 percent, according to Peter Navarro, White House trade adviser.
Navarro recently wrote a column about this for FOX News:
President Trump continues to deliver on his promise to ‘Buy American, Hire American’
Candidate Donald J. Trump promised his administration would follow two simple rules: “Buy American and Hire American.” Monday, during the third annual Made in America Showcase at the White House, President Trump will sign the latest in a series of executive orders keeping that promise.
The Buy American Act requires federal agencies to procure domestic iron, steel, and other materials and products for federal projects like airports, roads, and bridges. That’s good policy for at least three reasons.
Buy American federal procurement rules provide good manufacturing jobs at good wages, propelling more workers into middle-class prosperity.
In addition, about 20 cents of every Buy American dollar tends to come back to the United States Treasury in the form of taxes paid by corporations and workers earning profits and wages on Buy American projects, and state and local governments benefitting from more sales tax revenues.
Perhaps most importantly, Buy American helps strengthen our manufacturing and defense industrial base in the interests of both economic and national security.
Meanwhile, the Democrats running for president in 2020 can’t stop talking about all the things they’ll do for illegal immigrants.
The choice couldn’t be more clear.