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Joe Biden unveils $700 billion 'Buy American' campaign

Joe Biden proposes $700 billion 'Buy American' campaign
Posted at 11:30 AM, Jul 09, 2020
and last updated 2020-07-09 17:21:34-04

DUNMORE, Pa. (AP) — Democratic presidential candidate Joe Biden proposed a sweeping new use of the federal government's regulatory and spending power to bolster U.S. manufacturing and technology firms.

Biden wants a $400 billion, four-year increase in government purchasing of U.S.-based goods and services plus $300 billion in new research and development in U.S. technology concerns.

It calls for such investments before negotiating any new international trade deals.

Biden also proposes tightening current "Buy American" laws that are intended to benefit U.S. firms but can be easily circumvented by government agencies.

The speech was an attempt for Biden to position his campaign to attack President Donald Trump on the economy. Biden slammed Trump on his administration's handling of the coronavirus, which led to historic levels of unemployment earlier this year. Biden also claimed that Trump has placed a disproportionate amount of focus on the stock market and not on the economy as a whole.

Biden discussed the proposals at a metal works concern in Dunmore, Pennsylvania.