White House trade adviser Peter Navarro said on CNBC's Squawk Box Monday that he is presenting President Donald Trump with an executive order geared at establishing medical supply chains in the United States and reducing our dependency on importing from other countries.
CNBC host Andrew Ross Sorkin said, "The New York Times is reporting this morning that the administration is attempted to persuade a Germany firm developing a possible vaccine, the company, CureVac, to move its research development to the United States, this is according to German officials, raising fear, apparently, in Berlin that President Trump was trying to ensure that any enucleation would be available first in the United States and, perhaps, exclusively."
He asked Navarro, "Can you speak to that?"
"I want to ensure to Wall Street and the American people that we are tackling this. We are working 24/7," says White House adviser Peter Navarro. "It's all hands on deck." pic.twitter.com/yJKXOFgPiX
— Squawk Box (@SquawkCNBC) March 16, 2020
"What I can speak to is this broader," Navarro responded, "interesting issue of how dependent the United States of America is on the global supply chain, not just for its medicines, but for its medical supplies and medical equipment. As we speak, I’m bringing an executive order to the president, he personally asked me to move quickly on this issue."
"The essence of the executive order, which we hope to get to the finish line by the end of the week, is to bring all of that home, so we don’t have to worry about foreign dependency. 70 percent of our advanced pharmaceutical ingredients comes from abroad," he added.
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