4/18/2022, 1:50 PM (Source: TeleTrader)
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WH to require domestic materials for infrastructure projects - report

The White House will issue guidance on sourcing materials for infrastructure projects covered by the $1 trillion package adopted in November 2021, the AP reported on Monday. The new rules will require that iron and steel used for these projects be made in the United States, according to Office of Management and Budget official Celeste Drake.

"That means big corporations are going to create opportunities for small and medium-sized enterprises in the US as supply chains are partially re-shored to try to meet the content standards," she added. However, the administration included waivers in case the purchase of domestic materials is "inconsistent with the public interest," if the materials increase the cost of the project by over 25%, or if they are produced in insufficient quantities in the US.

Baha Breaking News (BBN) / DJ