Oh, this is almost too much winning.  Almost…  President Trump has appointed White House Manufacturing Advisor Peter Navarro to lead all U.S. coordination of the Defense Production Act.   Just like that… presto… Navarro becomes a bazillion times more powerful than CoC President Tom Donohue.   Delicious.

WASHNGTON – President Trump announced Friday he is appointing his trade adviser Peter Navarro to serve as his national Defense Production Act policy coordinator after using the act to force General Motors to begin making ventilators to treat coronavirus patients.

“He’s a tremendous guy and he will do a fantastic job,” the president said during a press briefing with his coronavirus taskforce at the White House. He said Navarro will serve as the national Defense Production Act coordinator for the federal government. (link)

Peter Navarro has been a long-term China hawk warning about the risk of U.S. multinationals doing critical supply-chain manufacturing overseas.  Navarro, working closely with U.S. Trade Representative Robert Lighthizer, has been the tip of the spear in the execution of America First policy and jobs.

This appointment, and these additional responsibilities, is a recognition for his efforts.

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Earlier today President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in the oval office.  [Video and Transcript Below]

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[Transcript] – THE PRESIDENT: Well, thank you all very much. This is a very important day. I’ll sign the single-biggest economic relief package in American history and, I must say, or any other package, by the way. It’s twice as large as any relief ever signed. It’s $2.2 billion, but it actually goes up to 6.2 — potentially — billion dollars — trillion dollars. So you’re talking about 6.2 trillion-dollar bill. Nothing like that. And this will deliver urgently needed relief to our nation’s families, workers, and businesses. And that’s what this is all about.

And it got a 96 to nothing. And, I don’t know, what was the number in Congress?

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Democrats and resistance media writ large have been demanding that President Trump invoke the Defense Production Act to force companies to make equipment for the fight against the coronavirus.   Until today, most companies voluntarily adjusted their manufacturing systems and networks to assist; so forced compliance was not needed.

However, General Motors now states an inability to meet their prior commitments for the manufacture of ventilators:

Now it really gets interesting… The CEO of GM is Mary Barra, considered a hero amid the political circles of democrats; and considered a potential pick for vice-president on a Democrat ticket.  Despite her generally weak leadership, democrats adore her resistance bona-fides.

The axiom: “be careful what you wish for” applies big time, because President Trump has just triggered the Defense Production Act to force General Motors to comply with their initial promise.  By playing games, again; CEO Mary Barra put herself in the crosshairs of the Trump administration.

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The White House COVID-19 task force briefing is being held today at approximately 5:00pm to 5:30pm ET.  Livestream Links Below:

White House Livestream Link – Fox News Livestream – Fox Business Livestream

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U.S. Treasury Secretary Steven Mnuchin calls-in to Maria Bartiromo to discuss some of the details within the coronavirus relief bill, including the ‘when’ and ‘how’ funds will be distributed.

On the business side Secretary Mnuchin is standing up a new funding mechanism for small businesses within the Small Business Administration (SBA).  The treasury is using the architecture of the ¹FDIC to be the point of contact for businesses who need short-term bridge funds to help carry them.  On the worker side the direct payments to middle-class workers should arrive in two to three weeks.  Excellent Interview:

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¹That is really smart.  All FDIC insured lenders can operate as point of contact lenders for small businesses that need emergency funding.  That means instead of navigating the matrix of big government, a business owner can just go to their local bank and get the funds.  The FDIC, already in a relationship with the bank, back-stops the funding while treasury underwrites the lending (a loan without payback).  Brilliant approach.

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President Trump called-in to Fox News host Sean Hannity for an extensive interview on the latest coronavirus developments.  Full interview below:

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President Donald Trump sent the following letter [pdf here] to our nations’ governors in response to the national COVID-19 crisis:

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• Phase One was retail. • Phase two was distribution. • Phase three was the space between manufacturing and distribution. • Phase four is raw material supply to manufacturing. U.S. food processing, and manufacturing is now operating at full capacity.

By now the majority of protein manufacturing has caught up. Beef and pork should be solid at your local market; however, chicken, while available, will lag to full replenishment capacity in the protein sector. The reason is: “chicken” is an ingredient component in many shelf stable items (soup etc.), that are still short as the manufacturing sector runs at capacity.

We enter a phase where grain commodities are now arriving at manufacturing.

♦ Between the Appalachian mountain range and the Colorado mountain range there is a massive amount of grain, meal, and derivative (farming) product generated. Thin component inventories, now exhausted at processing, are the cause of the current manufacturing supply chain stress… This lag will take a little longer.

There are train-loads of grain products heading both East and West daily; but there is a process of background prioritization taking place within the grain (total), flour, meal, rice and dried beans sector. The downstream ingredient system has a long-term and short-term priority schedule.

Example: total flour is prioritized to industrial bakeries for the production of bread. Nationally retail or consumer flour shortages are caused by prioritization in this part of the supply-chain.

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You knew it was going to happen… The U.S. Chamber of Commerce (President Tom Donohue) begins having apoplectic fits at the thought of even stronger Trump administration policies that might undercut their Chinese manufacturing investments.

The U.S. CoC is the biggest stakeholder of U.S. multinational companies doing business in China.  The Trump administration has been warning them for years to put America First in their business plans; and now with the Chinese Pandemic showing just how dangerous it is for critical manufacturing to be made in the U.S.A, chamber President Tom Donohue is pleading to keep the U.S. dependent on China.

Keep in mind, this is the EXACT SAME group who said the steel and aluminum tariffs were going to cause massive inflation driving up the price of all consumer goods and cars by thousands of dollars… It never happened; because the CoC are manipulative liars.

WASHINGTON (Reuters) – White House plans to expand “Buy America” mandates to the medical equipment and pharmaceutical sectors could worsen shortages of urgently needed medicines and delay discovery of a vaccine for the new coronavirus, over 80 business groups warned.

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President Trump, Vice President Pence and the COVID-19 task force hold a press briefing from the White House to provide updates and take questions from the media. The anticipated start time is 5:00pm ET.  Livestreams Below

WH Livestream Link – Fox News Livestream Link – RSBN Livestream Link

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