Biden beats Trump to the punch with massive 'Buy American' spending package -- and GOP allies are fuming
Donald Trump and Joe Biden (AFP/File)

Some of President Donald Trump's "economic nationalist" allies are furious that Joe Biden beat the White House to the punch with a "Buy American" policy push.

The president's former chief strategist Steve Bannon told the Washington Post's Jeff Stein that Biden's $300 billion domestic spending proposal was "very smart," and said the likely Democratic nominee had scored a win.

"The campaign and White House have been caught flat-footed," Bannon said. "Biden has very smart people around him, particularly on the economic side."

Biden will formally announce the proposal during a speech in Pennsylvania, where he will lay out a massive increase in government spending on research and development of technologies such as electric vehicles and 5G cellular networks, according to the New York Times.

White House economic adviser Peter Navarro drew up a "Buy America" executive order more than three months ago, but it's been stalled over objections from Treasury secretary Steve Mnuchin and senior adviser Jared Kushner.