Trump Invokes Defense Production Act Against 3M Over N95 Masks
Although 3M (NYSE: MMM) is ramping up production of its N95 respirators, President Trump apparently believes too many are still being manufactured for other countries when U.S. healthcare workers are facing a shortage. As a result, the president invoked the Defense Production Act, which would compel the company to prioritize mask production for the U.S. government.
He subsequently tweeted, "We hit 3M hard today after seeing what they were doing with their Masks. 'P Act' all the way.' Big surprise to many in government as to what they were doing-will have a big price to pay!"
Image source: 3M.
Source Fool.com
