Tony Uphoff, president and CEO of Thomas, has released the following statement regarding the new proposed Buy American Rule, which states that products purchased by the federal government need to have a greater percentage of their component parts made in the U.S., in efforts to strengthen American manufacturing:
“The Proposed Buy American Rule bolsters opportunities for the U.S. manufacturing and industrial sector, and we are pleased to see that support for America’s brand remains strong. It is a pivotal time for the domestic industrial supply chain, and these measures will continue to solidify U.S. manufacturing as a major force to be reckoned with in this new era of industry.
“The reexamination of supply chain relationships for industry comes at a critical point, as the pandemic underscored the need to diversify supply chains to prevent future disruptions. According to a recent Thomas survey, 83 percent of North American manufacturers indicate they are likely to extremely likely to reshore. Seeking domestic suppliers has the potential to result in tremendous economic opportunity: if manufacturers with plans to reshore bring on just one single-contract domestic supplier, the shift would drive as much as $443 billion in U.S. economic value.”
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