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AI Summary: This regulation establishes a policy to secure America's defense supply chains and ensure domestic acquisition of critical materials for the military. It mandates that finished military equipment, as well as the critical materials and components needed for its manufacture, maintenance, sustainment, and repair, must be sourced domestically or from allied nations. The regulation restricts the issuance of waivers for acquiring covered materials from potentially adversarial sources, requiring defense contractors to submit detailed mitigation plans that identify non-compliant sources, document efforts to find compliant alternatives, outline steps to remove non-compliant materials, and establish strict timelines for implementation. It also mandates that contractors map their critical supply chains from raw materials to end products, vet suppliers for financial, foreign ownership, control, or influence, and manufacturing and supply risks, and implement corrective actions. Furthermore, it requires the qualification and utilization of alternative domestic sources for materials from unreliable foreign suppliers, with penalties for non-compliance, and establishes a strategy to accelerate the testing and qualification of new sources and materials. The regulation also includes provisions for reporting on progress and defines key terms such as "critical supply chain," "indentured Bill of Materials," "financial" supply chain risk, "foreign ownership, control, or influence," "manufacturing and supply" risk, and "unreliable foreign supplier."