While Democrat lawmakers waste time pointing fingers about COVID-19 and the riots in Democrat-run cities, Donald Trump is making big moves to improve both the US’s national security and economy.
The Washington Examiner reported on Tuesday that Donald Trump has made the final decision to award a $765 million government loan to Kodak — former film manufacturer-turned pharmaceutical company — to speed up the production of critical pharmaceuticals on US soil.
The COVID-19 crisis exposed the alarming reality that China controls the production of much of the US’s medical supplies and drugs. This loan is the first major step in Trump’s plan to bring drug manufacturing back to the US.
The loan was authorized under the Defense Production Act to shore up American drug manufacturing abilities and update the strategic national stockpile, which was depleted by the Obama administration and COVID-19.
Kodak has agreed to make components of essential drugs that have lapsed into a chronic shortage, filling a gap that China would likely have filled without intervention on Trump’s part.
“Our 33rd use of the Defense Production Act will mobilize Kodak to make generic, active pharmaceutical ingredients,” Trump said in a press conference Tuesday evening. “We will bring back our jobs and we will make America the world’s premier medical manufacturer and supplier.”
The Examiner reported that the contract will create 350 new jobs at existing production facilities in Rochester, New York and St. Paul, Minnesota.
Development Finance Corporation CEO Adam Boehler, who is also a member of the White House coronavirus task force, said that “It’s unacceptable going forward that American pharmaceuticals — the generic form of pharmaceuticals — are made in China and outside of the United States. We will be self-reliant, and that will ensure our safety.”
According to reports, Kodak will be able to make 25% of the active ingredients needed for U.S. pharmaceuticals once operations reach peak production.