The plan includes increasing the threshold at which a product is deemed to contain “substantially all” domestic content in order to qualify for federal…
That plan includes increasing to 75 per cent the threshold at which a product is deemed to contain “substantially all” domestic content in order to qualify for federal infrastructure projects, a threshold that currently sits at just 55 per cent.
Friday’s announcement also hinted at something that hasn’t featured much at all in Biden’s past efforts to promote his protectionist strategy for revitalizing the U.S. manufacturing industry: a nod to foreign trading partners like Canada. It was a subtle nod to the fact those allies and friends have been paying closer attention to the growing bipartisan prevalence of protectionist rhetoric in the U.S., and the second time this week that the White House has appeared to temper its tone.
“We’re obviously pleased that the protectionist approach that the United States had proposed is not going forward,” Prime Minister Justin Trudeau said Friday, an apparent reference to Build Back Better. Instead, he repeated a message International Trade Minister Mary Ng initially delivered Monday in Washington, D.C., after her meetings with U.S. counterparts and lawmakers.
“We are going to continue to work together and will continue to make sure that they understand that protectionist policies against Canada end up hurting American jobs and American workers just as much.”
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