Hawley calls for ‘bold, new economic agenda that will restore American heartland’
First on Granthshala: Republican Sen. Josh Hawley is launching a measure amid the supply chain crisis that would identify key items critical to US national security and impose local material requirements for them – 50% of the value of the product to be produced in the United States. or more will be required. .
The bill, called the Make in America to Sell in America Act, provides a “bold” vision to “revitalize American manufacturing while securing critical supply chains.”
White House hails ‘serious progress’ on supply chains despite record backlog at California ports
Promoting new investment in domestic manufacturing would require multinational corporations in the United States to manufacture more substantial goods by establishing local material requirements.
Hawley’s office said his bill would also eliminate “dangerous redundancies at foreign factories,” which it says have contributed substantially to supply chain bottlenecks and backlogs in recent months.
Hawley told Granthshala Business, “For decades, Washington’s elite shipped American jobs overseas while factories across the country closed, leaving us dependent on foreign manufacturing.” “The COVID pandemic, disastrous lockdown policies, and Joe Biden’s war on American energy have exposed how misguided these choices were and the price that everyday Americans are now paying.”
Hawley said that “the shelves are empty. Prices are rising, and the trade deficit is at a record high.”
“Now is the time for a bold, new economic agenda that will restore the American heartland and put American workers before corporate profits,” Hawley said. “We cannot let this moment pass and fall back on Washington’s failed economic consensus.”
Hawley’s bill would direct the Commerce Department to consult with the Defense Department in preparing an annual report that identifies “finished and intermediate” manufactured goods that are important to the national security of the United States, or to protect an industrial base. are important for. United States of america.
The bill would also require that goods identified by the Departments of Commerce and Defense be subject to a local content requirement of no more than 50% – meaning more than 50% of the value of the product must be produced in the United States. Sold commercially in the country.
Hawley said the requirement would go into effect three years after enactment.
The bill would also impose requirements similar to anti-dumping duties, where domestic manufacturers can petition the International Trade Commission and the Department of Commerce for enforcement action against importers of goods that fail to meet the new standards.
Hawley’s proposal comes amid a supply chain crisis the Biden administration is trying to tackle by calling for 24/7 operations in some of California’s biggest ports, Los Angeles and Long Beach, and commitments from private companies such as Walmart, UPS and FedEx. Used to be. Also switch to the 24/7 model.
The White House this week lauded the “serious progress” made in the days following President Biden’s efforts to clear record hurdles. the supply chain.
But the number of ships waiting to enter those ports hit a record high on Monday, with a total of 157 vessels waiting at ports in Los Angeles and Long Beach, data from the Maritime Exchange showed. As of Monday, 100 ships were at anchor and 57 were at berth.
Still, White House Press Secretary Jen Psaki said Tuesday that Biden is “satisfied that progress is being made.”
“And one of the reasons there’s been a lot of traffic in these ports is because more goods are being ordered by people across the country,” Psaki said, touting the economy under the Biden administration. “People have more money, spendable resources, their wages have gone up, more people are working than they were a year ago.”
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but as Backlog grows in California ports With a record number of container ships waiting at sea, the port of Savannah is also beginning to see crowds as about two dozen ships wait off the Georgia coast.
Retailers and the White House issued a stern warning to consumers regarding holiday shopping, urging them to buy gifts early as the shipping crisis hits production.
Supply chain issues are a source of growing concern as global economies try to meet and overcome rising demand COVID-19 global pandemic.
Lack of basic household goods such as toilet paper, raw materials needed for manufacturing and critical technical components such as semiconductors have contributed to the rise in prices for consumers.
Meanwhile, Transportation Secretary Pete Buttigieg said on Sunday that disruptions to America’s supply chain are expected to continue into the next year, also claiming that the bottleneck, brought on by Biden’s economic recovery, was partially offset by an unprecedented amount of damage. has been inspired.