“Made in America” Executive Order to Affect International Companies and FDI
Friday, February 19, 2021
On January 25th, President Biden issued one of his first Executive Orders, making changes to the “Made in America” program. The order left many with questions about how it would affect trade and international investment into the U.S.
About the Executive Order
- The Executive Order is designed to strengthen the requirements for federal procurement in the U.S., allowing more of a preference for domestic products and supply chains (e.g., components) of domestic products.
- The order creates a new “Made in America” office to administer the new processes, which will be housed under the Office of Management & Budget (OMB) and will have its own director.
- All federal agencies have been tasked with “suspending, revising or rescinding” agency actions that are inconsistent with this policy, or proposing additional actions necessary to enforce the policy. Federal agencies have also been directed to work with Manufacturing Extension Partnership (MEP) offices (located in all 50 states) to try to identify domestic supply sources where possible.