Vendors more than doubled the amount of foreign-sourced goods sold to federal agencies to satisfy contracts over the last five years, pushing sales of off-shored products and services to a record $32.7 billion in fiscal 2023, according to analysis of federal procurement data by Bloomberg Government.
Despite efforts by the Biden administration to promote domestic sources of supply for companies contracting with the government, the foreign-sourced share of total procurement spending rose from 3% to 4.2% from fiscal 2019 to 2023.
Former President Donald Trump has said he would impose up to a 20% tariff on imports from countries other ...
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