Biden's "Buy America" Plan: The Economy in His Sights

Biden’s "Buy American" Bid: Despite perception of his weakness by Trump’s strategists and even his own advisers on the area of economy, Biden boldly went ahead in presenting  'BBB’ economic platform for every American that strongly suggest new and rigorous spending regulations to buy American products in order to revitalize the economy, stimulate local innovation , lessen dependence on overseas production and generate several millions of new American jobs. This platform formulated proposals which take racial inequalities prominently, including a new nation-wide American jobs program, and a baby savings plan for all American children.

Unified at last: While these proposals are not officially the Democratic Platform, the new cooperatively formulated Biden-Sanders policy proposals clearly indicate that the Democratic party’s left-leaning and moderate wings are uniting more than they did in the previous election. On six areas of Biden's policy agenda, the progressives were able to successfully inject their influence on some proposals. 

What they’re saying: “This will be the largest mobilization of public investments in procurement, infrastructure and (research and development) since World War II,” senior adviser Jake Sullivan told The Associated Press. The campaign is also promising that Biden will require efforts in domestic markets before negotiating new international trade deals.

The challenge is on. Biden's $700 billion bold and benevolent economic plan challenges Trump's "America First" platform with its competing "Buy American" economic nationalism. This sets the stage of an election showdown over America's financial future. After months of talks centering on Trump's failures, the announcement signaled an attempt to start presenting his platform more extensively. Beating the president to the punch, the timing of the announcement frustrated Trump's camp as they have a similar "Buy American" agenda that was held up for months. Yet, some economists contend that the "Buy American" government posture will not fix decades of low productivity growth but will instead create more costs to American consumers and businesses.

Why is this important: According to the CNBC AAES 2nd Quarter Survey, June 19-22, Biden led Trump on all issues except for the economy. With economic issues being the only comparative policy headwind, Biden can reach key supporters with a strong economic message.


What are your thoughts on Biden’s “Buy American” proposal?