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3M to make more face masks, ramp up imports to U.S. after Trump order

Published 04/03/2020, 09:02 AM
Updated 04/03/2020, 12:00 PM
© Reuters. Various N95 respiration masks at a laboratory of 3M, that has been contracted by the U.S. government to produce extra marks in response to the country's novel coronavirus outbreak, in Maplewood, Minnesota

© Reuters. Various N95 respiration masks at a laboratory of 3M, that has been contracted by the U.S. government to produce extra marks in response to the country's novel coronavirus outbreak, in Maplewood, Minnesota

(Reuters) - 3M Co (N:MMM) said on Friday it would increase the production of respirators and import more masks into the United States, after President Donald Trump invoked a law to help ease a shortage of essential items needed to fight the coronavirus pandemic.

The company said it will work closely with the Federal Emergency Management Agency to prioritize orders for the masks.(https://

Trump slammed 3M in a tweet late on Thursday after earlier announcing he was invoking the Defense Production Act to get the company to produce face masks.

The Defense Production Act, which was passed in 1950, grants the president the power to expand industrial production of key materials or products for national security and other reasons.

U.S. trade adviser Peter Navarro said that the government had some issues making sure that enough of the masks produced by 3M around the world were coming back to the United States.

"The narrative that we aren't doing everything we can as a company is just not true," 3M Chief Executive Officer Mike Roman told CNBC television in an interview on Friday.

3M said on Friday it has secured China's approval to export to the U.S. 10 million N-95 respirators manufactured by the company in China.

© Reuters. Various N95 respiration masks at a laboratory of 3M, that has been contracted by the U.S. government to produce extra marks in response to the country's novel coronavirus outbreak, in Maplewood, Minnesota

The company's shares declined about 2% to $134 in morning trade, compared with a near 1% fall on the broader S&P 500 index (SPX).

Latest comments

well I guess the rest of the world in turn will think of themselves and not the USA.. it's a dangerous game trump is playing to try to make up for his denying this pandemic as a Democrat hoax ( his usual tactic for negating actual facts that dont sit well with him) he has a lot of blood on his hands already
3M in China would need to follow China's rule. Of course if they need to ship from China to the US, they would need China approval to export.
Here is the official statement from regarding Canada  3M - "In addition, ceasing all export of respirators produced in the United States would likely cause other countries to retaliate and do the same, as some have already done," 3M said in a statement Friday. "If that were to occur, the net number of respirators being made available to the United States would actually decrease. That is the opposite of what we and the administration, on behalf of the American people, both seek."
Here is what the company said if they stop exports to Canada - "In addition, ceasing all export of respirators produced in the United States would likely cause other countries to retaliate and do the same, as some have already done," 3M said in a statement Friday. "If that were to occur, the net number of respirators being made available to the United States would actually decrease. That is the opposite of what we and the administration, on behalf of the American people, both seek."
It's funny when you think that you have all the powers in world to say whatever to change the market dynamics and then all of a sudden you been reduced to begging for mask to survive. Trade war to mask war, funny little world.
And then will 3M sell the masks to other countries instead of US, as they have been doing ?
It's about time.
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