(PoliticalLookout.com)- President Donald Trump continues to keep his promise of protecting the American people and in the wake of the Chinese coronavirus that exposed the vulnerability of relying on countries like China for vital drug ingredients. A new deal has been struck with a drug company in upstate New York. Eastman Kodak and President Donald Trump announced on Tuesday a new deal designed to bring back the manufacturing of important drug ingredients to the United States.
It means American citizens will no longer be vulnerable to problems with the international supply chain and don’t risk being cut off from important drugs in the event of a breakdown in the relationship between the United States and the communist Chinese regime.
The Wall Street Journal reported that China made up some 46% of all pharmaceutical ingredient exports in 2019, and the United States only accounted for 10%. It means that sufferers of various medical conditions in the United States would be at a major (and potentially deadly) disadvantage if the drugs became in short supply.
President Trump announced that he would be using the Defense Production Act to give a loan of $765 million to support the launch of the new Kodak Pharmaceutical operation. He described it as a “breakthrough in bringing pharmaceutical manufacturing back to the United States.”
“The coronavirus shows the importance of bringing manufacturing back to America so that we are producing, at home, the medicines and equipment and everything else that we need to protect the public’s health,” he added.
The new deal with Kodak will expedite the production of drugs in the United States, laying the framework for bringing the industry back to the United States in the long run.
This is the same Kodak that dominated the camera industry up until the sale of cameras significantly declined in favor of smartphones. The company will now focus on the production of ingredients for generic drugs, including the components that make up hydroxychloroquine. That’s the possible cure for COVID-19 that has long been touted by President Trump as a potential game-changer during the coronavirus pandemic.
The loan will be used by the United States International Development Finance Corporation and is understood to be the “first of its kind” under the Defense Production Act. That’s the legislation that was widely discussed during the early days of the pandemic as a way of forcing American businesses to shift production towards creating personal protective equipment and ventilators for hospitals.
Could this be a step towards ending reliance on authoritarian communist nations for cheap goods?