President Donald Trump has long advocated for returning manufacturing jobs to American soil following years of job losses to China and other foreign nations.
According to the Washington Examiner, he has now made use of the Defense Production Act (DPA) to encourage more domestic production of pharmaceutical ingredients.
A $765 million deal
Amid the ongoing coronavirus pandemic, the resulting spike in unemployment has made job creation especially urgent. With many drugs and pharmaceutical components imported to the U.S., this initiative provides an opportunity to make use of a Rochester, New York, manufacturing plant.
The Trump administration is using the DPA to extend a loan of about $765 million to a new division of Kodak Pharmaceuticals to develop about 25% of the components needed to make most prescription drugs.
This deal with Kodak is expected to be the first of multiple deals between the federal government and domestic corporations in furtherance of the president’s “America First” agenda.
As detailed in a fact sheet released by the White House, the deal will help Kodak Pharmaceuticals obtain its new facility, begin operations, and create approximately 360 new jobs.
It also marks the 33rd time Trump has used the DPA as leverage to encourage private-sector companies to provide for America’s needs with U.S.-produced goods.
“We have invested more than $3 billion”
He heralded the move during a press briefing on Tuesday, calling the deal “historic” and congratulating Kodak, the people of Rochester, and even Democratic New York Gov. Andrew Cuomo on the development.
“Today my administration has taken a momentous step toward achieving American pharmaceutical independence — a very, very big, big step — a focus of our campaign to bring America’s critical supply chains and medical manufacturing back to the USA,” he said.
As for Cuomo, reports indicate he was fully on board and supports the Trump administration in this project.
“Through the Defense Production Act and other authorities, we have invested more than $3 billion in our nation’s industrial base,” Trump said of his administration’s efforts. “We’ve contracted with companies such as Ford, General Motors, Philips, and General Electric to produce more than 200,000 ventilators by the end of this year — nearly seven times more than we would ever do in a typical year.”
The president’s critics are quick to question his leadership amid multiple nationwide crises, but announcements like this one show that the administration remains engaged and active on the American people’s behalf.