This is Why Trump Hit 3M 'Hard' Over the Coronavirus N95 Masks, Crypto Coins News
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3M is one of the latest U.S. Firms to have the Defense Production Act invoked against it.
The conglomerate will now be forced to sell N 0403 respirator masks to the federal government.
Demand for the respirator masks used by healthcare personnel currently outstrips supply.
As President Trump starts to use his wartime powers to ramp up production of equipment needed to fight the coronavirus pandemic, some US firms are starting to feel his wrath. The latest is applied sciences conglomerate 3M (NYSE: MMM).
In a tweet, Trump announced he had invoked the Defense Production Act against 3M. The move will force 3M to sell its N respirator masks to the federal government in the face of the coronavirus pandemic.
Trump said 3M will pay a “big price” but didn’t detail the company specific failings:
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