Posted on 08/01/2020 10:37:24 AM PDT by SeekAndFind
As the Trump White House this week announced a major deal to pivot photo giant Kodak toward pharmaceutical manufacturing, it made clear this was just the first step in a broader plan to break Chinese dominance of supply chain in manufacturing.
With a focus first on healthcare manufacturing, the White House brokered a $765 million loan to Kodak after noticing 90% of the main ingredients of the most common pharmaceuticals taken each day in the United States are manufactured abroad.
Adam Boehler, CEO of U.S. International Development Finance Corporation, is a lead administration official on the Kodak deal, and said the White House plans to move beyond drugs toward other medical supply areas vulnerably exposed during the coronavirus pandemic.
"We're going down the list," Boehler said in an interview with Just the News. "Look at masks, gloves. Right now, rubber gloves, they're 80%, 90% made outside of the country, we can't have that risk. It doesn't mean we can't buy from certain sources. But you've got to think about it like a backup generator. You've got to have those sources in the United States, too. So we're going through list of items of PPE. We're looking at generic pharmaceuticals, a number of other areas as well."
The White House said the Kodak Pharmaceuticals project is expected to add 350 new direct jobs to Kodak, along with "thousands of jobs" due to the "multiplier effect" of new demand within the local community of upstate Rochester, New York. That region has been decimated by Rust Belt trends, and Boehler said he's hopeful that Kodak will serve as a model for future federal-state partnerships to invest in rebuilding the United State's industrial base.
"Kodak is the first example," Boehler said. "If you think about Kodak, you think about film.
(Excerpt) Read more at justthenews.com ...
Why are we helping NY?
We’re helping the country, and there’s underutilized chemical industry physical plant there.
Breathing new life into Kodak and into Upstate New York.
“ Republicans and Democrats will be livid over this!!! ”
I don’t consider RINOs Republicans.
This process has already started. With the tariffs and trade restrictions Trump applied to them, trade with the US was down 14% in the first quarter of 2020, January through part of April, costing their producers and government around $38.5 billion for 3 plus months. And others have joined in the dog pile as exporting world wide from China is down, as of a month ago, 21% and the lowest it’s been in over 20 years.
Funny thing is, the largest product by volume sent over here is shoes. Barefoot boy cheeks of tan. Trump is quietly, and for a while has been, cutting them a new one.
I voted for a CEO, not a politician. Got what I wanted for a change.
rwood
And here I thought Kodak went bankrupt and out of business years ago because it refused to innovate. There’s even a documentary on how it invented the digital camera, and then thought it was not worth developing because it would eat into its film semi-monopoly, and then Asia grabbed and developed the technology.
You betcha! This is only possible with a businessman President. Kodak knows how to make chemicals, how to do retail packaging, and has distribution channels in place to every drugstore. And maybe some big pharma execs just got a wake-up call!
President Trump is in fact a genius.
Next up: Tik-Tok
… and no, it’s not for Microsoft, whose founder is a worshipper of China’s leaders and their eugenicist wet dreams.
What would be a good American company to broker a buyout of Tik-Tok USA?
So then helping the chinese must be better.
Let companies come to us...and get their a**** stateside again.
I think this is brilliant.
I didn’t say NYC, I said NY.
Kodak and you think about film. That was their problem...not innovative. They missed the boat but think of film??? Not in this generation....Copiers....
Why not help NYS? It’s called JOBS....let other companies step forward.
Because they vote D every single time.
Help a swing state like PA, OH, MI, or FL.
“I voted for a CEO. Got what I wanted for a change.”
Me too. You’re going to love what he’s getting ready to do to the Fed.
President Trump knows how the real world works, and it is not based on some abstract Utopian economic theory that Bill Kristol gleaned from the pointy-headed professors, eggheads, and "nattering nabobs" (to quote Spiro T. Agnew).
Meds, of course. But let’s not forget hardware and wire. We can’t build anything without nuts, bolts, screws, rivets, wire, connectors, switches, micro chips, circuit boards ... that all went to China, too.
It scares me to think the US is kind of like the South before the Civil War (except no slaves, thank goodness) ... we sell raw material like grain, meat, timber etc. and buy back finished goods from China (like the North in the Civil War. With added human rights abuses)
God help us in a hot war with China.
“Why not help NYS? It’s called JOBS....let other companies step forward.”
Because NYS is a high tax state. The state taxes the producer pays add to cost of production.And eventually liberal NY will be imposing regs and environmental mandates on them. The Feds should be incentivizing to bring these jobs back to low cost states- red states- so their their product are more cost competitive No reason why Kodak cannot open the drug manufacturing plant in the sunbelt
Have you ever been to Rochester, NY, seen the facility, or met any of the people there?
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