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Trump says government to review $765M Kodak loan deal

Added 08-04-20 09:58:02pm EST - “President Trump said Tuesday that the government will investigate a deal secured by Kodak for a $765 million government loan to produce drugs at its factories in the U.S.?” - Thehill.com

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Posted By TheNewsCommenter: From Thehill.com: “Trump says government to review $765M Kodak loan deal”. Below is an excerpt from the article.

President TrumpDonald John TrumpWhite House sued over lack of sign language interpreters at coronavirus briefings Wife blames Trump, lack of masks for husband's coronavirus death in obit: 'May Karma find you all' Trump authorizes reduced funding for National Guard coronavirus response through 2020 MORE said Tuesday that the government will investigate a deal secured by Kodak for a $765 million government loan to produce drugs at its factories in the U.S. 

Trump said at a press conference Tuesday that he believed the deal would help Kodak expand into a new sector, but that he was not personally involved in crafting the arrangement. 

“The concept of the deal is good…We’ll do a little study on that. We’ll find out. If there is any problem, we’ll let you know about it very quickly,” he said. “I wasn’t involved in it. It’s a big deal, it’s a way of bringing back a great area, in addition to pharmaceuticals.”

The deal, which was first announced in late July, would involve the first loan of its kind under the Defense Production Act (DPA) and will be focused on producing ingredients for generic drugs.

White House trade adviser Peter Navarro said at the time it was a “big win” and would help ease American reliance on foreign supply chains, an issue that has been thrust into the spotlight during the coronavirus pandemic.

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