SPONSORED:

Mnuchin: Trump may invoke DPA to produce future coronavirus vaccine

Mnuchin: Trump may invoke DPA to produce future coronavirus vaccine
© GETTY IMAGES

Treasury Secretary Steven MnuchinSteven MnuchinOn The Money: Schumer urges Democrats to stick together on .9T bill | Collins rules out GOP support for Biden relief plan | Powell fights inflation fears Mnuchin expected to launch investment fund seeking backing from Persian Gulf region: report Larry Kudlow debuts to big ratings on Fox Business Network MORE said Thursday that President TrumpDonald TrumpBiden to hold virtual bilateral meeting with Mexican president More than 300 charged in connection to Capitol riot Trump Jr.: There are 'plenty' of GOP incumbents who should be challenged MORE is open to invoking the Defense Production Act (DPA) again for the production of a future coronavirus vaccine.

The DPA is “a very important tool, it should be used carefully,” Mnuchin said Thursday in an interview with The Hill's Editor-in-Chief Bob CusackRobert (Bob) CusackTrump legal switch hints at larger problems The Hill's Morning Report - President Biden, Vice President Harris begin work today Incoming lawmakers stress coronavirus relief, economy as first priority of new session MORE for the Advancing America's Economy virtual event.

“I know the president is very much willing to use it if we need to use it. I got an update on vaccines yesterday and the investments that BARDA [the Biomedical Advanced Research and Development Authority] is making, which I think is really terrific and in many cases they have commitments to take over large amounts of the vaccines,” he said.

ADVERTISEMENT

“The DPA is a very important tool to protect the American workers, and if the president needs to use it he will,” Mnuchin added.

The DPA, established in 1950 during the Korean War, allows the president to require businesses to prioritize production of essential materials for national defense.

Trump had already invoked it during the coronavirus pandemic for the production of ventilators and personal protective gear, as well as when he signed an executive order requiring meat production plants to remain open.

The Hill’s event was sponsored by Wells Fargo and Siemen’s.