President Trump has invoked the Defense Production Act to force General Motors (NYSE:GM) to produce ventilators.
“Today, I signed a Presidential Memorandum
directing the [HHS Secretary] to use any and all authority available
under the Defense Production Act to require General Motors to accept,
perform, and prioritize Federal contracts for ventilators,” Trump says
in a White House statement.
“Our negotiations with GM regarding its ability to
supply ventilators have been productive, but our fight against the
virus is too urgent to allow the give-and-take of the contracting
process to continue to run its normal course. GM was wasting time.”
https://seekingalpha.com/news/3556003-trump-signs-order-to-force-gm-to-make-ventilators
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