President Donald Trump reversed course Friday and revealed that he’s buying General Motors to produce ventilators needed by health centers during the coronavirus pandemic.
Trump took action under the Defense Production Act, a 1950 law that gives the president legal power over industrial production, and signed a memorandum “to need General Motors to accept, perform, and focus on Federal contracts for ventilators.”
” Our negotiations with GM regarding its capability to supply ventilators have been productive, however our fight versus the virus is too urgent to allow the give-and-take of the contracting process to continue to run its typical course,” Trump stated in a declaration. “GM was wasti