Today, President Trump is taking further action under the Defense Production Act to end America’s overreliance on foreign supply chains.
The Administration has used the Defense Production Act more than 30 times to date, helping to secure critical supplies of ventilators, personal protective equipment, testing supplies, pharmaceutical products, and more during the global Coronavirus pandemic.
Now, the Administration is providing a $765 million loan to Kodak to support the launch of Kodak Pharmaceuticals, which will boost America’s domestic production of much-needed drugs. Once fully operational, Kodak Pharmaceuticals will manufacture up to 25 percent of active pharmaceutical ingredients for certain generic medicines.
“This is not about China or India or any one country,” White House Director of Trade and Manufacturing Policy Peter Navarro says. “It’s about America losing its pharmaceutical supply chains to the sweat shops, pollution havens, and tax havens around the world that cheat America out of its pharmaceutical independence.”
MORE: Kodak Shifts Into Drug Production With Help of U.S. Loan
