More "Made in USA": New Rules for Goods in the Market
This act aims to boost manufacturing in the United States by requiring many goods sold here to have over 50% of their value from the USA. This could mean more domestic jobs and less reliance on foreign suppliers, but also potentially higher prices for some products.
Key points
Many products sold in the U.S. will need to be more than 50% domestically produced, aiming to support local businesses and create jobs.
The government will identify critical goods whose U.S. production is important for national security and the economy.
Companies failing to meet the new requirements could face significant fines, but small businesses (with annual revenue under $5 million) are exempt.
The President can temporarily waive these requirements for certain goods if domestic production is difficult or critical for national security.
Expired
Additional Information
Print number: 117_S_3032
Sponsor: Sen. Hawley, Josh [R-MO]
Process start date: 2021-10-20