Wednesday, August 10, 2022

Joe Biden to announce Siemens expansion, raise standards for ‘Buy American’ products

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President Biden will host the head of Siemens USA at the White House on Friday to announce the company will create 300 new jobs in California and Texas in a $54 million expansion of its manufacturing facilities.

The president also will announce updates to the Buy American Act, which sets requirements for determining whether products bear the label of being “made in the U.S.A.” Senior administration officials said the president will outline updated deadlines for companies to meet thresholds for their products to qualify for the made-in-America designation.

The administration is raising the threshold from the current 55% components made in the U.S. to 60% in October, and phasing in to 75% in 2029. Officials said the requirement will encourage U.S. manufacturers to focus more on domestic supply chains.

Mr. Biden and Siemens President and CEO Barbara Humpton will announce the company’s expanded domestic production that will focus on critical electrical infrastructure that supports everything from electric vehicle chargers to data centers to industrial sites, the White House said.

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