Watch live: Coronavirus Task Force members give update on COVID-19 response

WISDOMS, INCLUDING SOLE PROPRIETORS THE LOANS ARE UP TO 100% FORGIVABLE AS LONG AS THEY KEEP PAYING WORKERS AND SOCIAL SECURITY BENEFICIARIES NOT REQUIRED TO FILE A TAX RETURN, THEY DON’T HAVE TO FILE ONE IN ORDER TO RECEIVE THE CASH PAYMENTS THAT WILL SOON BE DISTRIBUTED TO AMERICAN CITIZENS THE TREASURY WILL DEPOSIT THE MONEY DIRECTLY INTO THE BANK ACCOUNTS AND DON’T FORGET I WILL ALWAYS PROTECT YOUR SOCIAL SECURITY, YOUR MEDICARE AND YOUR MEDICAID WE’RE PROTECTING SECRETARY OF STATE, MEDICARE, AND MEDICAID AND I ALWAYS WILL I’D LIKE NOW TO INVITE SBA ADMINISTRATOR WHO IS DOING A FANTASTIC JOB SHE’LL BE VERY BUSY IN THE NEXT LITTLE WHILE AND SECRETARY STEVE MNUCHIN TO SAY A FEW WORDS ABOUT THESE VITAL INITIATIVES AND THEN ON TO THE ATTACK OF THE VIRUS ITSELF STEVE AND JOVITA >> THANK YOU MR. PRESIDENT AND MR. VICE PRESIDENT SECRETARY MNUCHIN, IVANKA TRUMP, AND ALL WHO I HAVE BEEN WORKING CLOSELY WITH IN THIS EFFORT SMALL BUSINESS IS THE BACKBONE OF THE AMERICAN ECONOMY AND THE PRESIDENT HAS PUT THE NATION’S 30 MILLION SMALL BUSINESSES FRONT AND CENTER IN THE RESPONSE EFFORT AND WE ARE WORKING HARD TO GET MONEY TO THEM QUICKLY THIS IS AN UNPRECEDENTED EFFORT BY THIS ADMINISTRATION TO SUPPORT SMALL BUSINESSES AND WE KNOW THAT THERE WILL BE CHALLENGES IN THE PROCESS SECRETARY MNUCHIN AND I ARE WORKING IN TANDEM TO ENSURE THAT FEEDBACK FROM OUR PARTNERS IS BEING HEARD AND IMPLEMENTED TO ENSURE THAT SMALL BUSINESSES AND WORKERS ACROSS THE COUNTRY ARE PUT FIRST THIS ADMINISTRATION BELIEVES WHOLEHEARTEDLY THAT IF YOU ARE A SMALL BUSINESS, YOU ARE A CRITICAL PART OF THE ECONOMIC FABRIC OF THIS COUNTRY AND YOUR VIABILITY IS CRITICAL TO THE ECONOMIC WELL BEING OF YOUR EMPLOYEES AT SBA WE ARE WORKING AROUND THE CLOCK TO SUPPORT SMALL BUSINESSES, ENSURING THAT WE ARE PRIORITIZING EMERGENCY CAPITAL FOR SMALL BUSINESSES THAT ARE SUFFERING ECONOMIC HARM AS A RESULT OF THIS UNPRECEDENTED SITUATION THIS RELIEF WILL HELP STABILIZE A SMALL BUSINESS SECTOR BY PROVIDING BUSINESS WAS THE FINANCIAL RESOURCES THEY NEED TO KEEP THE WORKERS EMPLOYED AND KEEP UP WITH THE DAY-TO-DAY OPERATING EXPENSES TODAY I WANT TO ENSURE THAT SMALL BUSINESSES ALL OVER THE COUNTRY KNOW ABOUT THE PAYCHECK PROTECTION PROGRAM AND HOW THEY CAN BENEFIT FROM THIS SIMPLY PUT, THE PAYCHECK PROTECTION PROGRAM IS TO HELP KEEP EMPLOYEES ON PAYROLL AND SMALL BUSINESSES OPEN SBA WILL FORGIVE THE PORTION OF THE LOAN THAT IS USED TOWARDS JOB RETENTION AND CERTAIN OTHER EXPENSES WE ARE WORKING CLOSELY WITH LENDERS SO THAT BUSINESSES CAN GO DIRECTLY TO LOCAL LENDERS, THE PAYCHECK PROTECTION PROGRAM IS IN ADDITION TO SUBSTANTIAL WORK THAT THE SBA HAS AND WILL CONTINUE TO DO TO HELP SMALL BUSINESSES INCLUDING ADVANCES ON SBA DISASTER LOANS AND FORGIVEN EXISTING PAYMENTS OVER THE NEXT SIX MONTHS ADDITIONAL DETAILS ON THIS IMPORTANT PROGRAMS CAN BE FOUND AT SBA.GOV AND WE’LL BE UPDATING THE RESOURCES REGULARLY OUR HEARTS GO OUT TO THOSE AFFECTED BY THIS TERRIBLE VIRUS OUR COMMUNITIES AROUND THE COUNTRY ARE STEPPING UP AND WE’LL GET THROUGH THIS TOGETHER AT SBA WE KNOW THAT EVERY PHONE CALL, E-MAIL, OR APPLICATION SUBMITTED HAS A SMALL BUSINESS OWNER, THEIR EMPLOYEES AND THE COMMUNITIES THEY SUPPORT ARE ON THE OTHER SIDE OUR MOST IMPORTANT OBJECTIVE IS TO ALLOW SMALL BUSINESSES TO KEEP THEIR EMPLOYEES AND KEEP THEIR BUSINESSES VIABLE I WANT TO REITERATE THE IMPORTANCE OF PATIENCE IN THIS PROCESS AS WE WORK TOGETHER TO ENSURE THAT BUSINESSES ARE ABLE TO ACCESS NEEDED CREDIT WE WILL CONTINUE WORKING AROUND THE CLOCK AS WE’VE DONE WITH OUR FEDERAL AND PRIVATE SECTOR PARTNERS EXPANDING CAPACITY AND WORKING TO MAKE OUR SYSTEMS AS ROBUST AS POSSIBLE TO MEET THE NEEDS THANK YOU, MR. PRESIDENT >> THANK YOU >> THANK YOU, MR. PRESIDENT THANK YOU, MR. VICE PRESIDENT THANK YOU JOVITA WE NOW NEED TO EXECUTE

WE NEED TO GET MONEY TO SMALL BUSINESS AND AMERICAN WORKERS AND WHAT’S WHAT WE’RE DOING THE PROGRAM IS COMMITTED TO START TOMORROW AND WE HAD BOTH TEAMS WORKING UNTIL 4:00 IN THE MORNING AND START WORKING AGAIN TODAY WE HAVE HEARD FEEDBACK FROM LENDERS, COMMUNITY BANKS, REGIONAL BANKS, AND WE SPENT THE LAST 24 HOURS MAKING THE SYSTEM EVEN EASIER SO THIS WILL BE UP AND RUNNING TOMORROW AND I ENCOURAGE ALL SMALL BUSINESSES THAT HAVE 500 OR FEWER PEOPLE, PLEASE CONTACT YOUR LENDERS, ANY FDIC EXECUTION WILL BE ABLE TO DO THAT EXISTING SBA LENDERS YOU’LL GET THE MONEY THE SAME DAY YOU USE IT TO PAY YOUR WORKERS PLEASE BRING YOUR WORKERS BACK TO WORK YOU HAVE EIGHT WEEKS PLUS OVERHEAD THIS IS A VERY IMPORTANT PROGRAM I’M PLEASED TO ANNOUNCE WE ARE GOING TO RAISE THE INTEREST RATE ON THESE LOANS AND AGAIN, THE INTEREST RATE IS PAID FOR AS PART OF THE PROGRAM WE HAD ANNOUNCED IT WAS 50 BASIS POINTS WE’VE HEARD FROM SOME SMALLER COMMUNITY BANKS THAT THEIR DEPOSIT COSTS EVEN THOUGH THE GOVERNMENT IS BORROWING AT THREE OR FOUR BASIS POINTS WE’VE AGREED TO RAISE THE INTEREST RATE I ENCOURAGE EVERYBODY TAKE OUT THE PAYCHECK PROTECTION PROGRAM I’M ALSO PLEASED TO REPORT THE ECONOMIC IMPACT PAYMENTS I HAD PREVIOUSLY SAID IT WOULD TAKE THREE WEEKS I’M PLEASED TO REPORT THAT WITHIN TWO WEEKS, THE FIRST PAYMENTS WILL BE DIRECT DEPOSITED INTO ACCOUNTS THE PRESIDENT AUTHORIZED ME TO SAY THAT ANYBODY WHO HAS SOCIAL SECURITY WON’T NEED TO FILE A NEW TAX RETURN AND WILL HAVE THAT IF WE DON’T HAVE YOUR DIRECT DEPOSIT INFORMATION, WE’LL BE PUTTING UP A WEB PORTAL IT’S A LARGE PRIORITY THE PRESIDENT HAS MADE CLEAR WE WANT TO GET THE MONEY QUICKLY INTO YOUR HANDS I’M ALSO PLEASED TO REPORT THAT WE CONTINUE TO WORK CLOSELY WITH THE FEDERAL RESERVE WE’RE IN THE PROCESS OF DESIGNING A NEW FACILITY THAT WE CALL THE MAIN STREET LENDING FACILITY AND WE’RE LOOKING AT FACILITIES FOR STATE GOVERNMENTS AS WELL AND I’M PLEASED TO REPORT THE EMPLOYER RETENTION CREDIT IS UP AND RUNNING THE FIRST $10,000 OF WAGES, YOU GET A 50% CREDIT, THAT’S $5,000 PER PERSON YOU CAN IMMEDIATELY GET THAT MONEY AND DEDUCT IT FROM WHAT YOU OWE THE IRS AND IF YOU DON’T OWE US MONEY, YOU’LL GET A CREDIT WE’RE TAKING PUBLICS FROM THE AIRLINES, FROM THE CARGO COMPANIES AND FROM NATIONAL SECURITY COMPANIES THANK YOU VERY MUCH, MR PRESIDENT >> THANK YOU, STEVE >> FOR JOVITA OR STEVE, ANY QUESTIONS? >> CHASE BANK SENDS A LETTER TO BUSINESS CLIENTS SAYING THEY DON’T HAVE THE GUIDANCE FROM THE SBA OR THE TREASURY DEPARTMENT TO BE ABLE TO ACCEPT LOAN APPLICATIONS STARTING TOMORROW THE NEED IS CLEARLY ENORMOUS BUT ONE MAJOR BANK SAYS THEY ARE NOT FULLY EMPOWERED YET >> I SPOKE TO THE CEOs YESTERDAY AND WE GOT GOOD INPUT PEOPLE WERE WORKING UNTIL 4:00 I BELIEVE WE JUST PUT UP THE FEDERAL REGISTER WITH THE NEW GUIDELINES FOR LENDERS, I’VE BEEN ASSURED THAT THE BANKS WILL BE IN THE PROCESS STARTING TOMORROW IT’S GOING TO TAKE A LITTLE BIT OF TIME BUT WE COMMITTED THAT THIS WILL BE AVAILABLE TOMORROW AND I ENCOURAGE ALL COMPANIES GO TO SBA.GOV AND SEE THE INFORMATION YOU NEED IMMEDIATELY >> A NUMBER OF THEM SAYING THEY WERE ON THE CONFERENCE CALL AND THERE’S A TREMENDOUS POWER STRUGGLE GOING ON BETWEEN THE TREASURY AND SBA AND THAT IT’S OVERPROCESS AND FORMS, BUT THEY TELL ME LENDERS ARE OPTING OUT BECAUSE THEY CAN’T MAKE ENOUGH MONEY TO SERVICE THE LOANS HOW ARE YOU GOING TO MAKE SURE THAT THE SMALL BUSINESS OWNERS GET THE CAPITAL THEY NEED >> I CAN ASSURE YOU THERE’S NO POWER STRUGGLE JOVITA AND OUR TEAM WORKED TOGETHER UNTIL 4:00 IN THE MORNING, STARTED WORKING AT 7:00 AGAIN WE’VE MADE THE FORMS SIMPLER AND I CAN ASSURE YOU AT 5 POINTS, I’VE TOLD THESE BANKERS THEY SHOULD TAKE ALL THE TRADERS AND PUT THEM IN THE BRANCHES >> ARE THE CHECKS DIRECT DEPOSIT IRS SAYING FOUR TO FIVE MONTHS >> LET ME BE CLEAR I DON’T KNOW WHERE YOU’RE HEARING THESE THINGS

I TOLD YOU THREE WEEKS AND I’M NOW COMMITTING TO TWO WEEKS WE’RE DELIVERING ON OUR COMMITMENTS WITHIN TWO WEEKS, THE FIRST MONEY WILL BE IN PEOPLE’S ACCOUNTS >> FOR THOSE WHO HAVE DIRECT DEPOSITS THOSE WILL GO OUT QUICKLY FOR FOLKS THAT DON’T HAVE DIRECT DEPOSIT THERE WAS A STAFF MEMO SAYING IT COULD TAKE UP TO FIVE >> THAT IS NOT GOING TO TAKE IT TOOK MONTHS AND MONTHS AND MONTHS WHEN OBAMA SENT OUT CHECKS IF WE HAVE YOUR INFORMATION YOU’LL GET IT WITHIN TWO WEEKS SOCIAL SECURITY YOU’LL GET IT VERY QUICKLY AFTER THAT IF WE DON’T HAVE YOUR INFORMATION, YOU’LL HAVE A SIMPLE WEB PORTAL IF WE DON’T HAVE THAT, THE CHECKS WILL BE IN THE MAIL >> WE CAN PROCESS A LOT OF CHECKS, BUT WE DON’T WANT TO SEND CHECKS WE WANT TO PUT MONEY DIRECTLY INTO THEIR ACCOUNT >> THIS IS FOR BOTH YOU AND THE ADMINISTRATOR THERE HAVE BEEN ANECDOTAL REPORT THAT IS BUSINESS PEOPLE ARE TRYING TO GET ACCESS TO THE ONLINE SITE TO SUBMIT THE APPLICATIONS AND THE WEBSITE HAS BEEN CRASHING AND WEBINARS ARE GOING OFF LINE BECAUSE THERE TOO MANY PEOPLE ON THEM HOW WILL YOU BE READY? >> WE’VE BROUGHT IN A LOT OF EXTERNAL RESOURCES TO MAKE SURE THERE’S ADDITIONAL CAPACITY AS I SAID, WE HEARD A LOT OF GOOD FEEDBACK YESTERDAY TO SIMPLIFY THE PROCESS IT’S GOING TO BE UP AND RUNNING THAT DOESN’T MEAN EVERYBODY IS GOING TO GET THEIR LOAN TOMORROW THE SYSTEM WILL BE UP AND RUNNING AND WE ENCOURAGE PEOPLE TO SIGN UP YOU CAN GO ON THE WEB, SEE WHAT INFORMATION YOU NEED VERY SIMPLE PROCESS >> HAVE YOU BEEN IN TOUCH WITH LEADER McCONNELL AND SPEAKER PELOSI ABOUT THEIR DIFFERENCES ABOUT ANOTHER STIMULUS PACKAGE? >> I’VE SPOKEN TO THE LEADER AND THE SPEAKER AND I’VE SPOKEN TO THE PRESIDENT CONSTANTLY WHEN THE PRESIDENT IS READY AND THINKS WE SHOULD DO THE NEXT STAGE WE’RE READY THE PRESIDENT HAS TALKED ABOUT THE ISSUE OF INFRASTRUCTURE THAT’S A BIG PRIORITY FOR HIM AND AGAIN, IF WE RUN OUT OF MONEY ON THE SMALL BUSINESS PROGRAM WE’LL BE BACK TO GET IT INCREASED >> DOES THE UNEMPLOYMENT NUMBERS TODAY INCREASE THE URGENCY OF DOING A PHASE FOUR? >> LET ME SAY WE’RE GOING THROUGH SOMETHING WE’VE NEVER DONE BEFORE THE GOVERNMENT HAS SHUT DOWN PARTS OF THE ECONOMY FOR HEALTH REASONS OUR ECONOMY WAS IN GREAT SHAPE AND COMPANIES WERE IN GREAT SHAPE AND THERE ARE THREE WAY THAT IS AMERICANS WILL BE PROTECTED FOR SMALL BUSINESS WHO GET PAID BY THEIR BUSINESS THE DIRECT DEPOSIT THERE’S ALSO ENHANCED UNEMPLOYMENT WE REALIZE THERE ARE A LOT OF COMPANIES THAT BECAUSE THEY AREN’T IN BUSINESS OVER A SHORT PERIOD OF TIME, AGAIN WE’RE WORKING WITH THE STATES ON ENHANCED UNEMPLOYMENT AND AS SOON AS THE MEDICAL PROFESSIONALS AND THE PRESIDENT GIVE THE ALL CLEAR, WE’RE GOING TO HAVE A TON OF LIQUIDITY WE HAVE $6 TRILLION, THIS HAS NEVER BEEN DONE BETWEEN US AND THE FED TO PUT INTO THE ECONOMY TO SUPPORT AMERICAN WORKERS AND AMERICAN BUSINESS >> IN ADDITION TO THE JOBLESS NUMBERS WE SAW TODAY, PHASE THREE WAS SIGNED BEFORE THE SOCIAL DISTANCING GUIDELINES WERE STEPPED FOR ANOTHER MONTH SO WHAT ADDITIONAL WHAT ARE YOU WAITING FOR? >> IN DESIGNING THIS PROGRAM WE THOUGHT THAT WE HAD LIQUIDITY FOR ABOUT TEN WEEKS AND THAT’S WHAT WE’VE DESIGNED AND AGAIN, I THINK THE PRESIDENT HAS BEFORE VERY CLEAR IF WE NEED TO GO BACK TO CONGRESS TO SUPPORT THE AMERICAN ECONOMY AND WORKERS WE’LL BE DOING THAT >> NANCY PELOSI HAS FORMED A COMMITTEE TO OVERSEE THE DISTRIBUTION OF RECOVERY FUNDS AND SHE WANTS TO MAKE SURE THAT THE FUNDS ARE WISELY AND EFFICIENTLY SPENT? DO YOU THINK THAT’S NECESSARY? >> I DON’T BOTH PARTIES WANTED OVERSIGHT AND TRANSPARENCY WE HAVE FULL TRANSPARENCY WE HAVE AN OVERSIGHT COMMITTEE THAT THE SPEAKER GETS TO PICK SOMEONE AND THE LEADER GETS TO PICK SOMEONE THAT COMMITTEE WILL REVIEW THE MONEY WE’RE SPENDING AND WE SUPPORT FULL TRANSPARENCY TAXPAYERS SHOULD UNDERSTAND HOW WE’RE GOING TO SUPPORT THE ECONOMY AND JOBS >> ASKED YOU TO CONSIDER PROVIDING LOANS TO ENERGY COMPANIES WOULD YOU CONSIDER PROVIDING LOANS TO ENERGY COMPANIES?

>> THANK YOU, AND LET ME CLARIFY I HAVE VERY LIMITED ABILITY TO DO DIRECT LOANS OUT OF THE TREASURY I CAN DO THEM FOR PASSENGER AIRLINES, CARGO AIRLINES, CONTRACTORS, AND NATIONAL SECURITY COMPANIES, OUTSIDE OF THAT, WE WORK WITH THE FEDERAL RESERVE TO CREATE BROAD BASED LENDING FACILITIES WHICH WE WILL DO OUR EXPECTATION IS THE ENERGY COMPANIES LIKE ALL OTHER COMPANIES WILL BE ABLE TO PARTICIPATE IN BROAD BASED FACILITIES WHETHER IT’S THE CORPORATE OR THE MAIN STREET BUT NOT DIRECT LENDING OUT OF THE TREASURY >> THE QUESTION FOR CLARITY FOR THOSE WHO DON’T HAVE BANK ACCOUNTS OR DIRECT DEPOSIT INFORMATION ON FILE, HOW LONG WILL THEY HAVE TO WAIT? >> FOR PEOPLE WHO DON’T HAVE DIRECT DEPOSIT, WE CAN ON A ROLLING BASIS, I THINK WITHIN A COUPLE OF DAYS WHEN THEY GIVE IT TO US, WE’LL SEND THE MONEY OUT THERE ARE PEOPLE WHO ARE UNDER- BANKED AND WE’RE WORKING WITH ALL OF THE DIGITAL COMPANIES, PREPAID CARDS TO MAKE SURE THAT WE HAVE A PROCESS THAT EVERY AMERICAN GETS THE MONEY QUICKLY THE MONEY DOES NO GOOD QUICKLY IS A MATTER OF WEEKS AND NOT MONTHS >> WOULD YOU CONSIDER A — >> ONE AREA WHERE YOU, THE AIRLINES HOW MUCH DO YOU EXPECT THE TREASURY DEPARTMENT AND THE FEDERAL GOVERNMENT WILL BE INVOLVED IN OVERSEEING THE OPERATIONS OF AIRLINES AS IT PERTAINS TO WHICH ROUTES GET CUT BACK, HOW THEY OPERATE AND WHAT THEY DO ABOUT EMPLOYEES AND THE LIKE? >> THERE ARE STRICT REQUIREMENTS BUILT INTO THE BILL THIS WAS A BIPARTISAN REQUIREMENT ANYTHING WE DO WITH THE AIRLINES THEY HAVE TO MAINTAIN SUBSTANTIALLY ALL OF THEIR EMPLOYEES ANY MONEY WE PROVIDE THEM WILL GO TO PAY EMPLOYEES WE’LL BE WORKING WITH THE SECRETARY OF TRANSPORTATION THERE ARE REQUIREMENTS TO MAINTAIN CERTAIN ROUTES SO AGAIN, WE HAVE A VERY CLEAR PROCESS, WE’VE HIRED THREE OUTSIDE FINANCIAL ADVISERS, WE’LL BE RELEASING THAT INFORMATION SHORTLY AND I WANT TO THANK THEM THEY ARE ALL WORKING FOR BASICALLY VERY, VERY LITTLE MONEY THEY COULDN’T WORK FOR FREE THEY’VE AGREED TO WORK FOR WHAT THEY WOULD SIGN UP TO WORK FOR CHARITABLE ORGANIZATIONS NO BIG FEES TO BANKERS, WE HAVE A GREAT TEAM OF THREE LAWYERS AND FINANCIAL ADVISERS THAT WILL ASSIST US >> WILL YOU GIVE US A LIST OF THE NAMES OF THE PEOPLE WHO ARE ADVISING YOU WHEN YOU RELEASE THE INFORMATION >> OF COURSE WE WILL WE’LL GIVE YOU THE NAMES AND THE CONTRACTS >> AGAIN, I’M HAPPY TO ANNOUNCE WE HAVE THE PJT PARTNERS IS GOING TO DO THE PASSENGER AIRLINES AND MOLIS WILL DO THE CONTRACTORS, AND PERELA THE NATIONAL SECURITY THREE LAW FIRMS AND LET ME BE CLEAR, WE NEED TO GET THIS DONE QUICKLY THE AIRLINES NEED MONEY WE’RE GOING TO WORK CLOSELY WITH THE DEPARTMENT OF TRANSPORTATION AND GET THIS DONE QUICKLY WE’VE RECEIVED CONTRACTS FROM A LOT OF THE PEOPLE THERE’S GUIDANCE UP ON THE WEB FULL TRANSPARENCY AND WE’VE ASKED FOR APPLICATIONS >> ON THE AIRLINE ISSUE AGAIN, SPEAKER PELOSI AND OTHERS HAVE SAID THAT THE GOVERNMENT TAKING STAKES IN THE AIRLINES SHOULD NOT BE A CONDITION FOR PAYROLL SUPPORT >> I SPOKE TO THE SPEAKER LAST NIGHT ABOUT THAT THIS WAS SOMETHING HIGHLY NEGOTIATED BETWEEN THE REPUBLICANS AND THE DEMOCRATS THE PRESIDENT WAS PERSONALLY INVOLVED IN THIS HE WAS ON THE PHONE WITH US MANY TIMES MITCH McCONNELL, MARK MEADOWS, SENATORS ON BOTH SIDES, THERE’S A SPECIFIC LINE IN THE BILL THAT SAYS THAT THE SECRETARY MEANING ME WILL DETERMINE PROPER COMPENSATION, SO THIS IS NOT A BAILOUT FOR THE AIRLINES AND I WILL BE WORKING ONCE WE GET OUR ADVICE FROM OUR FINANCIAL ADVISERS, AND THE APPLICATIONS FROM THE AIRLINES AND I’LL BE WORKING CLOSELY WITH THE AIRLINES AND NOT A BAILOUT TAXPAYERS GET COMPENSATED BUT THESE ARE NATIONAL SECURITY AIRLINES WE WANT TO KEEP OUR AIRLINES INTACT >> MORE BROADLY PERHAPS FOR THE ADMINISTRATOR IF NOT FOR YOU AS WELL SOME SMALL BUSINESSES, RESTAURANT OWNERS FOR EXAMPLE ARE FINING THAT LAYING OFF THE EMPLOYEES, THEY CAN START COLLECTING UNEMPLOYMENT IS BETTER BOTH FOR THEM AS BUSINESS OWNERS AND FOR THE WORKERS WHAT INCENTIVES DO THEY HAVE TO KEEP THEIR EMPLOYEES ON THE PAYROLL IF NO ONE IS COMING IN TO THE RESTAURANT? >> THE INCENTIVE THAT YOU HAVE AND WE WANT AMERICAN BUSINESS TO BE KEPT INTACT THE INCENTIVE IS THESE ARE

LOANS THAT TURN INTO GRANTS IF YOU’RE A BUSINESS OWNER AND YOU’RE A RESTAURANT YOU CAN HIRE YOUR PEOPLE BACK YOU GET MONEY FOR THEIR MEDICAL AND YOU KEEP THEM ON THE MEDICAL PLAN YOU GET MONEY FOR YOUR RENT AND ELECTRICITY YOU’RE MOTIVATED WE WANT YOU TO HAVE A BUSINESS THAT YOU CAN REOPEN QUICKLY WHEN APPROPRIATE THIS DOESN’T COST THE BUSINESS OWNERS ANYTHING WHEN PEOPLE TALK ABOUT I CAN’T IMAGINE ANY AMERICAN WORKER WHO HAD A JOB, IS OFFERED TO KEEP THEIR JOB, ISN’T GOING TO WANT TO HAVE IT WE’VE ALSO TALKED ABOUT THE UNEMPLOYMENT ISSUE YOU CAN ONLY GET UNEMPLOYMENT IF YOU DON’T HAVE A JOB UNEMPLOYMENT IS INTENDED FOR THOSE PEOPLE THAT ARE SOME OF THE MID-SIZE OR LARGER BUSINESSES AND WE’RE VERY SYMPATHETIC TO THIS THEY THESE COMPANIES CAN’T AFFORD AND FOR THOSE PEOPLE THE ENHANCED UNEMPLOYMENT WILL BE A SIGNIFICANT BENEFIT 50% OF THE AMERICAN WORK FORCE IS SMALL BUSINESSES UNDER 500 PEOPLE THE PRESIDENT, THE VICE PRESIDENT, THE ADMINISTRATOR AND I WANT TO MAKE SURE THAT PART OF THE ECONOMY IS READY AND INTACT WHEN WE’RE READY TO REOPEN >> IS THERE A CERTAIN CATEGORY OF SMALL BUSINESSES THAT YOU’RE MOST CONCERNED ABOUT RESTAURANTS, HAIR SALONS, THINGS LIKE THAT >> WE’RE CONCERNED ABOUT EVERY SMALL BUSINESS THERE’S 30 MILLION SMALL BUSINESSES THAT WE’RE FOCUSED ON AND WE’RE WORKING FEVERISHLY TO MAKE SURE THAT WE CAN PROVIDE THE AVAILABLE FUNDS TO THEM AS QUICKLY AS POSSIBLE 30MILLION SMALL BUSINESSES AND THE OTHERS ARE BEING DEALT WITH THE, AND THERE WAS AN ADVANCE ASSOCIATED WITH THAT PARTICULAR PROGRAM AS WELL TO ANSWER YOU QUESTION, WE’RE CONCERNED ABOUT ALL BUSINESSES AND AS THE SECRETARY INDICATED WE’RE LOOKING AT EMPLOYEES BEING READY, NOT LOST IN THE PROCESS WE WANT BUSINESSES TO STAY INTACT THEY REPRESENT HALF THE GDP IF WE SPEND A TRILLION TO SUPPORT 10 TRILLION OR 11 TRILLION, THAT’S A SIGNIFICANT INVESTMENT AND THAT’S WHAT WE’RE FOCUSED ON >> IS THERE A SEGMENT THAT’S VULNERABLE? >> I WANT TO MAKE SURE THAT EVERYBODY UNDERSTANDS THIS IF YOU’RE AN INDEPENDENT CONTRACTOR OR A SOLE PROPRIETOR YOU’RE ELIGIBLE FOR THIS AS WELL THAT PROGRAM WON’T BE UP AND RUNNING UNTIL NEXT WEEK BUT AGAIN, THIS IS A BROAD DEFINITION OF SMALL BUSINESS IF YOU’RE AN INDEPENDENT PLUMBER, AN INDEPENDENT CONTRACTOR, YOU’RE COVERED UNDER THE PROGRAM SLIGHTLY MORE COMPLICATED YOU HAVE TO COME INTO THE BANK AND GIVE THEM MORE INFORMATION STARTING NEXT WEEK THAT PART OF THE PROGRAM WILL BE UP AND RUNNING AND CHARITIES ARE VERY IMPORTANT THE PRESIDENT AND VICE PRESIDENT MADE SURE THAT WE COVERED SMALL CHARITIES >> THERE ARE SOME TECHNICAL ISSUES BUT YES, IT DOES INCLUDE FAITH ORGANIZATIONS >> IS THAT UNDER THE SBA PROGRAM >> THE NEW SBA PROGRAM THEY ARE COVERED >> THANK YOU, EVERYBODY >> SO THEY START HANDING OUT CHECKS AND A LOT OF PEOPLE WILL HAVE THEIR BUSINESSES BUILT BACK UP COMPLICATED, BIG, SMALL BUSINESSES I THANK THEM BOTH AND PLEASE, WE HAVE SOME GREAT GENTLEMEN LET ME SEE THANK YOU VERY MUCH TODAY MY ADMINISTRATION IS ISSUING NEW GUIDELINES TO PROTECT ELDERLY AMERICANS WHO REMAIN THE MOST VULNERABLE NURSING HOMES SHOULD HAVE SUSPENDED THE ENTRY OF ALL MEDICALLY UNNECESSARY PERSONNEL AND WE’RE RECOMMENDING THAT ALL NURSING HOME FACILITIES ASSIGN THE SAME STAFF TO CARE FOR THE SAME GROUP OF RESIDENTS TO MINIMIZE ANY POTENTIAL SPREAD AND WE’RE URGING FACILITIES TO DESIGNATE AREAS FOR HEALTHY AND SICK RESIDENTS AND THIS IS A PRACTICE THAT WE PROBABLY WILL BE RECOMMENDING INTO THE FUTURE LONG AFTER THE ENEMY IS GONE THIS PARTICULAR ENEMY IS GONE AND WE’RE MAKING EVERY EFFORT TO PROVIDE RELIEF TO OUR GREAT VETERANS WE TAKE VERY GOOD CARE OF OUR VETERANS SECRETARY WILL KEY WILL USE ANY, TO EXTEND BENEFITS AND POSTPONE DEBT COLLECTIONS WE’RE CONDUCTING 100,000 CORONAVIRUS TESTS PER DAY

OVER 100,000 TESTS PER DAY AND THESE ARE ACCURATE TESTS AND THEY’RE MOVING RAPIDLY WHICH IS MORE THAN ANY OTHER COUNTRY IN THE WORLD BOTH IN TERMS OF THE RAW NUMBER AND ALSO ON A PER CAPITA BASIS THE MOST THE FDA HAS AUTHORIZED THE FIRST CORONAVIRUS ANTIBODY TEST DEVELOPED BY CELEX A KEY STEP THAT WILL IDENTIFY PEOPLE WHO HAVE RECOVERED AND TO UNDERSTAND THEIR IMMUNE SYSTEM I DIRECTED SECRETARY AZAR AND WOLF TO USE NORTH UNDER THE DEFENSE PRODUCTION ACT TO ENSURE THAT DOMESTIC MANUFACTURERS HAVE THE SUPPLIES THEY NEED TO PRODUCE VENTILATORS FOR PATIENTS WITH SEVERE CASES OF COVID-19 YOU KNOW WHAT THAT IS, RIGHT? IT’S BECOME A VERY FAMOUS TERM THIS ACTION WILL HELP GENERAL ELECTRIC, MEDTRONIC, ROYAL PHILLIPS, AND, OVERCOME OBSTACLES THAT THREATEN THE RAPID PRODUCTION OF VENTILATORS WE HAVE OVER 100,000 BEING BUILT RIGHT NOW OR SOON TO BE STARTED WE ANTICIPATE ISSUING FOR ORDERS UNDER THE DEFENSE PRODUCTION ACT IN THE VERY NEAR FUTURE IN ADDITION TO THE ONE THAT I JUST SIGNED AGAINST 3M FOR FACE MASKS, WE JUST SIGNED AN ELEMENT OF THE ACT AGAINST 3M AND HOPEFULLY, THEY’LL BE ABLE TO DO WHAT THEY ARE SUPPOSED TO DO JUST SPOKE TO MARY BARRA OF GENERAL MOTORS AND THEY’LL BE READY TO START PRODUCTION OF THE VENTILATORS THEY HAVE A LOT OF VENTILATORS THEY’VE COMMITTED TO BUILD AND THEY’LL BE STARTING VERY, VERY QUICKLY FEMA CONTINUES TO DELIVER RESOURCES TO AREAS MOST AFFECTED BY THE VIRUS, INCLUDING NEW YORK ON TOP OF THE 3,000 BEDS WE’RE ALREADY PROVIDING, ANOTHER 48 ICU BEDS GOVERNOR CUOMO HAS ASKED THAT THIS FACILITY GO AND IT’S A BIG, BEAUTIFUL FACILITY BE CONVERTED TO A COVID HOSPITAL AND WE HADN’T THOUGHT IN TERMS OF DOING THAT BUT THE DEMAND IS FOR THAT AND WE HAD MEETINGS ON IT WITH THE TASK FORCE AND MEETINGS WITH THE MILITARY AND I’VE DECIDED TO SAY YES, I’M GOING TO DO THAT I WILL BE SIGNING AND AGREEING TO A YES ANSWER SO THAT WE WILL BE DOING THAT AND ALSO WE WILL BE STAFFING IT SO THE GOVERNMENT IS DOING A LOT OF THINGS THAT WASN’T ANTICIPATED THIS IS A 2,500 OR 2,900 SET UP HOSPITAL BE IT IN JAVITS CENTER AND WE’LL BE CONVERTING THAT TO A COVID-19 HOSPITAL AND IT’S GOING TO BE STAFFED BY THE MILITARY AND BY THE FEDERAL GOVERNMENT AND BASED ON THE FACT THAT I AGREED TO THAT WE HAD TWO OTHER FACILITIES THAT WERE LIKEWISE ASKING FOR IT AND THAT WOULD BE IN LOUISIANA AND ALSO IN DALLAS AND WE’LL BE DOING THOSE WE SPOKE TO THE GOVERNOR OF LOUISIANA WE SPOKE TO THE GOVERNOR OF TEXAS, AND WE’VE TOLD THEM THAT WE WILL BE STAFFING THE HOSPITALS AGAIN ABOVE AND BEYOND BUT THAT’S OKAY IN ADDITION TO THE USNS COMFORT IS DOCKED IN NEW YORK TO ACCEPT PATIENTS THAT’S A NON-COVID TO DATE, FEMA HAS DELIVERED 4 MILLION N-95 MASK RESPIRATORS 4MILLION, 4 MILLION DON’T FORGET, WE’RE A SECONDARY SOURCE THE STATES ARE DOING IT AND WE’RE BACKING THEM UP AND WE’VE GOTTEN 4 MILLION 1.8MILLION SURGICAL MASKS 460,000 FACE SHIELDS, 1.4 MILLION GLOVES, AND 4,400 VENTILATORS JUST TO THE CITY AND STATE OF NEW YORK AND SOME OF THEM NOW ARE BEING SENT I SPOKE WITH GOVERNOR CUOMO AND MAYOR DE BLASIO AND ALL OF AMERICA STANDS WITH THE PEOPLE OF NEW YORK IN THIS TIME OF NEED IT’S DEFINITELY A HOT SPOT AND WE HAVE OTHER HOT SPOTS AND WE’RE TAKING CARE OF THEM VERY, VERY STRONGLY AND POWERFULLY WE HAVE THE FINEST PEOPLE IN THE WORLD IN THOSE LOCATIONS AND I THINK THE FEDERAL

GOVERNMENT HAS NOT ONLY ACTED EARLY BUT ACTED QUICKLY, PROFESSIONALLY, THERE’S NO PEOPLE LIKE THIS DOCTORS, NURSES, FIRST RESPONDERS, AND OTHER HEALTHCARE PROVIDERS WHO WANT TO HELP NEW YORK AT THIS CRITICAL TIME SHOULD VISIT WEBSITE WWW.NYC.GOV SLASH HELP NOW WE HAVE GREAT FACILITIES AND WE’VE BUILT BRAND NEW FACILITIES BUT WE NEED HELP WE NEED HELP FOR PROFESSIONAL PEOPLE IF YOU’RE IN AN AREA THAT IS NOT AFFECTED AND YOU’RE A DOCTOR OR A NURSE OR A HEALTHCARE WORKERS, PLEASE GET TO THAT WEBSITE AND WE WOULD REALLY APPRECIATE YOUR HELP NEW YORK CITY NEEDS IT LOUISIANA BY THE WAY NEEDS IT MICHIGAN NEEDS IT WHATEVER YOU CAN DO THOSE ARE STRONG HOT SPOTS THAT NEED HELP IN RECENT WEEKS AS THE VIRUS HAS SPREAD AND ECONOMIC HARDSHIP FOLLOWED, WE HAVE SEEN AMERICANS UNITE WITH SELFLESSNESS AND COMPASSION I WANT TO REMIND EVERYONE IN OUR NATION’S CAPITAL, ESPECIALLY IN CONGRESS, THIS IS NOT THE TIME FOR POLITICS ENDLESS PARTISAN INVESTIGATIONS, HERE WE GO AGAIN HAVE ALREADY DONE EXTRAORDINARY DAMAGE TO OUR COUNTRY IN RECENT YEARS YOU SEE WHAT HAPPENS IT’S WITCH HUNT AFTER WITCH HUNT AFTER WITCH HUNT AND IN THE END THE PEOPLE DOING THE WITCH HUNT HAVE BEEN LOSING AND LOSING BY A LOT IT’S NOT A TIME FOR WITCH HUNTS IT’S TIME TO GET THE ENEMY DEFEATED CONDUCTING INVESTIGATIONS IN THE MIDDLE OF A PANDEMIC IS A BIG WASTE OF VITAL RESOURCES, TIME, ATTENTION, AND WE WANT TO FIGHT FOR AMERICAN LIVES, NOT WASTE TIME AND BUILD UP MY POLL NUMBERS THAT’S ALL THEY’RE DOING, EVERYONE KNOWS IT’S RIDICULOUS SO WE WANT TO FOCUS ON THE PEOPLE OF THIS COUNTRY EVEN THE PEOPLE OF THE WORLD WE’LL BE ABLE TO HELP THEM RIGHT NOW AS AN EXAMPLE WE’RE BUILDING SO MANY VENTILATORS VERY, VERY HARD TO BUILD BUT WE’RE BUILDING THOUSANDS OF THEM AND A LOT OF THEM WILL BE COMING AT A TIME WHEN WE WON’T NEED THEM AS BADLY BECAUSE IT TAKES TIME VERY COMPLEX AND EXPENSIVE AND WE’LL BE ABLE TO HELP OUTSIDE OF OUR COUNTRY WE THINK WE’LL BE ABLE TO HELP THAT’S SOMETHING THAT YOU CANNOT EASILY PRODUCE CITIZENS LINKED TOGETHER BY THE SHARED BONDS OF LOVE, LOYALTY, AND AFFECTION THERE’S NO EARTHLY FORCE MORE POWERFUL THAT STIRS IN OUR HEARTS AND THAT IS SO TRUE IT’S INCREDIBLE THE JOB THAT EVERYBODY HAS BEEN DOING THEY DON’T SLEEP OR GO TO BED SOMETIMES THEY GET NOTHING HOW MANY HOURS SLEEP HAVE YOU GOTTEN OVER THE LAST COUPLE OF DAYS AND THE ANSWER WAS NONE, NONE IN ONE MASSACHUSETTS NEIGHBORHOOD CITIZENS COME OUT OF THEIR HOMES EACH NIGHT AT 8:00 FROM THEIR PORCHES AND SING GOD BLESS AMERICA OTHERS HAVE JOINED IN SPREADING FROM HOUSE TO HOUSE UNTIL THE LITTLE TOWN WITH A SPIRIT OF PATRIOTISM REMINDING ALL AMERICANS THAT WE ARE IN THIS TOGETHER AND WE’LL FIGHT TO THE AND WIN TOGETHER AND WE’RE GOING TO WIN THIS NOW WHAT I’D LIKE TO DO WE HAVE A MEETING ON THIS SUBJECT AND I’M GOING TO STEP OUT FOR A FEW MOMENTS AND I’LL BE RIGHT BACK AND WE’LL ANSWER SOME QUESTIONS BUT WE HAVE HARD WORKING PEOPLE LED BY VICE PRESIDENT MIKE PENCE AND JARED KUSHNER IS GOING TO SAY A FEW WORDS, AND ADMIRAL, PETER NAVARRO, DR BIRX AND MYSELF I’LL SEE YOU IN A LITTLE WHILE I DID TAKE A TEST THIS IS FROM THE WHITE HOUSE PHYSICIAN YOU MAY HAVE IT I JUST TOOK IT THIS MORNING AND I TOOK IT IT TOOK ME LITERALLY A MINUTE TO TAKE IT AND IT >> GOSH IT SAID THE PRESIDENT TESTED NEGATIVE FOR COVID-19, THAT IS THE SECOND ONE, I THINK I TOOK IT OUT OF CURIOSITY TO SEE HOW QUICKLY IT WORKED IT’S A LOT EASIER THE SECOND IS MUCH MORE PLEASANT I CAN TELL YOU THAT MUCH MORE PLEASANT I WILL BE BACK IN A LITTLE WHILE AND MIKE, LEASE TAKEOVER THANK YOU ALL VERY MUCH >> THANK YOU, MR. PRESIDENT THE WHITE HOUSE CORONAVIRUS TASK FORCE MET TODAY BUT EARLIER IN THE DAY THE PRESIDENT CONVENED ALL THE KEY ELEMENTS OF OUR SUPPLY CHAIN TEAM AND THE WATERS AND THE PROGRESS WE HAVE BEEN

MAKING A AROUND THE CLOCK TO MAKE SURE HEALTHCARE WORKERS AND PEOPLE ON THE FRONT LINES HAVE THE PERSON — PERSONAL PROTECTIVE EQUIPMENT AND VENTILATORS TO MEET THIS MOMENT AND TODAY YOU WILL HEAR FROM THE PEOPLE THAT ARE LITERALLY WORKING EACH AND EVERY DAY TO MAKE THAT HAPPEN DR. DEBORAH WORKS IS WITH US, SHE WILL REFLECT IN A FEW MOMENTS ON THE PROGRESS THAT WE ARE MAKING, ANALYZING THE DATA, EACH AND EVERY DAY WE ARE LOOKING COUNTY BY COUNTY, STATE BY STATE, CONSULTING WITH GOVERNORS AND LOCAL HEALTH OFFICIALS AT THE PRESENT MOMENT 1.3 MILLION TESTS HAVE BEEN PERFORMED AND AS YOU ALL ARE AWARE, SOME 236,000 AMERICANS HAVE TESTED POSITIVE FOR THE CORONAVIRUS WITH THE LOSSES OVER 5000 AMERICANS AND OUR HEARTS ARE WITH THEIR FAMILIES THE ON THAT WE HAVE BEEN FOCUSING NOT JUST ON ENSURING THE TESTING IS OCCURRING BUT THAT THE SUPPLIES ARE PULLING OF THE PRESIDENT ANNOUNCED HE MADE A DECISION TODAY TO DEPLOY THOUSANDS OF MOSQUES DIRECTLY TO NEW YORK CITY’S PUBLIC HOSPITALS AND OUR TEAMS WILL SPEAK ABOUT THAT AND JUST MOMENT AND ALSO THE PRESIDENT TALK THE UNPRECEDENTED STOP TO DIRECT THE DEPARTMENT OF DEFENSE TO USE MILITARY HEALTHCARE PERSONNEL TO OPERATE ALL COVID FACILITIES AT THE JAVITS CENTER IN NEW YORK, THE CONVENTION CENTER IN NEW ORLEANS AND AT THE CONVENTION CENTER IN DALLAS WE INFORMED EACH OF THE GOVERNORS OF THOSE STATES TODAY THAT THE REQUEST, WE WERE MAKING THOSE MILITARY MEDICAL PERSONNEL AVAILABLE TO OPERATE IN ALL FACILITIES WE WOULD EMPHASIZE TWO PEOPLE IN THE COMMUNITY WHO BELIEVE YOU HAVE BEEN IMPACTED OR CONTRACTED THE CORONAVIRUS, CONTACT YOUR LOCAL HEALTHCARE PROVIDER WE ANTICIPATE IN THE NEW YORK AREA YOUR LOCAL HEALTHCARE PROVIDER WILL MAKE THE DECISION WHETHER YOU ARE TRANSFERRED TO THE JAVITS CENTER AND IN ALL CASES TO THE GUIDANCE OF YOUR LOCAL GOVERNORS ABOUT HOW BEST TO RECEIVE THE CARE THAT EVERY AMERICAN, EVERY AMERICAN IS ENTITLED TO HAVE BEYOND THAT, LET ME SAY WE HAVE BEEN WORKING THROUGH FEMA’S ACQUISITION PROCESS NOT ONLY TO DEPLOY BUT TO GATHER UP PERSONAL PROTECTIVE EQUIPMENT AND A FEW MOMENTS YOU WILL HEAR FROM THE ADMIRAL ABOUT THE EXTRAORDINARY PROGRESS THAT WE HAVE MADE IN DEPLOYING NOT JUST THE STRATEGIC NATIONAL STOCKPILE BUT ALSO IN IDENTIFYING ON THE COMMERCIAL MARKETPLACE AROUND AMERICA AND AROUND THE WORLD LITERALLY MILLIONS OF N95 MASKS, SURGICAL GOWNS, GLOVES, PROTECTIVE EQUIPMENT AND AT THIS POINT WE HAVE DISTRIBUTED SOME 7600 VENTILATORS AND YOU WILL HEAR TODAY SPECIFICALLY ABOUT THE STATES THAT HAVE RECEIVED WAS VENTILATORS THIS TEAM IS TRULY ACTING IN AN EXPIRING WAY AND LITERALLY IS WORKING WITH DOZENS AND DOZENS OF PEOPLE AT THE FEMA STABILIZATION TASK FORCE TO MAKE SURE THAT WE ARE LEAVING NO STONE UNTURNED TO FIND THE SUPPLIES WE NEED LET ME ALSO SAY TODAY YOU WILL HEAR FROM JARED KUSHNER, SENIOR ADVISOR TO THE PRESIDENT OF THE UNITED STATES SOMEONE THAT THE WHITE HOUSE CORONAVIRUS TASK FORCE DIRECTED TO WORK WITH FEMA ON SUPPLY- CHAIN ISSUES AND IN RECENT WEEKS HE HAS BEEN LEADING A WORKING GROUP IN CONJUNCTION WITH FEMA THAT LITERALLY IS IDENTIFIED BY MILLIONS OF MEDICAL SUPPLIES AROUND THE NATION AND AROUND THE WORLD AND WE ARE GRATEFUL FOR HIS EFFORTS AND LEADERSHIP YOU WILL AR FROM PETER NAVARRO WHO WILL EXPLAIN ACTION THE PRESIDENT TOOK TODAY USING THE DEFENSE PRODUCTION ACT BUT AS YOU HEAR DETAILS TODAY, ABOUT MEDICAL SUPPLIES THAT HAVE BEEN DISTRIBUTED, THOSE THAT HAVE BEEN PURCHASED, THOSE MAKING AVAILABLE, VENTILATORS DISTRIBUTED THE HOSPITALS AND THOSE AVAILABLE, LET ME REMIND EVERY AMERICAN THAT YOU CAN MAKE A DIFFERENCE IN ENSURING THAT EVERY PATIENT HAS THE TREATMENT THE DESERT, EVERY HEALTHCARE PROVIDER, DOCTOR AND NURSE A NURSE’S ASSISTANT HAS THE PROTECTIVE GEAR TO PROVIDE THE CARE THAT YOU WOULD WANT YOUR FAMILY TO HAVE BY PUTTING INTO PRACTICE THE PRESIDENT 30 DAYS TO SLOW THE SPREAD WE WANT YOU TO TAKE TO HEART THE PRESIDENT CORONAVIRUS GUIDELINES FOR AMERICAN TO PROTECT YOUR HEALTH, THE HEALTH OF YOUR FAMILY, THE HEALTH OF YOUR COMMUNITY, WE KNOW SO MANY PEOPLE THAT ARE ASYMPTOMATIC. PEOPLE THAT LITERALLY DON’T KNOW THEY HAVE

THE CORONAVIRUS BUT HAVE THE ABILITY TO INFECT OTHERS WE WANT YOU TO PUT THESE GUIDELINES INTO PRACTICE, SOCIAL DISTANCING, USING A DRIVE-THROUGH AT A RESTAURANT, WASHING HANDS, AS WE FOCUS TODAY ON SUPPLIES MAKE NO MISTAKE ABOUT IT EVERY AMERICAN CAN MAKE SURE THAT OUR HEALTHCARE WORKERS AND MORE IMPORTANTLY AMERICANS ARE STRUGGLING WITH CORONAVIRUS HAVE THE EQUIPMENT TO SUPPORT THEIR TREATMENT BY PUTTING THESE PRINCIPLES INTO PRACTICE IF YOU ARE AMERICANS THAT CONTRACT THE CORONAVIRUS, THE FEWER AMERICANS WILL HAVE TO ENTER THE HEALTHCARE SYSTEM THAT WILL CONTINUE TO PRESERVE THE CAPACITY IN OUR HEALTHCARE ECONOMY WE THINK THE MILLIONS OF AMERICANS WHO HAVE RESPONDED IN THE FIRST TWO DAYS THE 30 DAYS TO SLOW THE SPREAD I AM ABSOLUTELY CONFIDENT IN THE DAYS AHEAD EVERY AMERICAN WILL DO THEIR PART FOR YOUR HEALTH, FAMILIES HEALTH, THE HEALTH OF YOUR COMMUNITY AND TO ENSURE THE STRENGTH AND VITALITY OF THE GREATEST HEALTHCARE SYSTEM IN THE WORLD WITH THAT LET ME INTRODUCE JARED KUSHNER TO SPEAK ABOUT THE WORK HE HAS BEEN DOING, WORKING WITH FEMA ON ENSURING THE STRONG SUPPLY-CHAIN TO MEET THIS MOMENT >> THANK YOU MR. VICE PRESIDENT AND THANK YOU FOR YOUR LEADERSHIP ON THE TASK FORCE THANK YOU TO DR. BURKS AND DR FAUCI, IT HAS BEEN AN HONOR WORKING WITH YOU THE VICE PRESIDENT ASKED ME TO HELP ON THE TASK FORCE WITH DIFFERENT TASKS I ASKED THE PRESIDENT WHAT HE EXPECTED FROM THE TASK FORCE AND HOW I COULD BEST SERVE HIM AND THE TASK FORCE AND THE PRESIDENT ASKED ALL THE RECOMMENDATIONS WE MAKE BASED ON DATA, HE WANTED US TO BE RIGOROUS AND MAKE SURE WE WERE STUDYING THE DATA, COLLECTING DATA, A LOT OF THINGS WERE HAPPENING QUICKLY WE WANTED TO MAKE SURE WE WERE TRYING TO KEEP UPDATING THE MODELS AND MAKING SURE THAT WE WERE MAKING INFORMED DECISIONS AND RECOMMENDATIONS TO HIM BASED ON THE DATA WE WERE ABLE TO COLLECT AND PUT TOGETHER THE PRESIDENT WANTED TO MAKE SURE WE HAVE THE BEST PEOPLE DOING THE BEST JOBS AND MAKING SURE WE HAVE THE RIGHT PEOPLE FOCUSED ON ALL THE THINGS THAT NEEDED TO HAPPEN TO BE SURE THAT WE COULD DELIVER IN THESE UNUSUAL TIMES FOR THE AMERICAN PEOPLE THE PRESIDENT INSTRUCTED ME TO MAKE SURE THAT I WOULD BREAK DOWN EVERY BARRIER NEEDED TO MAKE SURE THAT THE TEAMS COULD SUCCEED THIS IS AN EFFORT WHERE THE GOVERNMENT IS DOING THINK THE GOVERNMENT DOESN’T NORMALLY DO WHERE WE ARE STRETCHING, ACTING QUICKLY, THE PRESIDENT WANTS TO MAKE SURE THE WHITE HOUSE IS BEHIND THE DIFFERENT PEOPLE RUNNING THE DIFFERENT LINES OF EFFORT TO MAKE SURE WE GET EVERYTHING DONE AND AT A SPEED THE PRESIDENT DEMANDS THE PRESIDENT WANTED US TO MAKE SURE WE THINK OUTSIDE THE BOX MAKE SURE WE ARE FINDING THE BEST THINKERS IN THE COUNTRY, WE ARE GETTING ALL THE BEST IDEAS AND WE ARE DOING EVERYTHING POSSIBLE TO MAKE SURE THAT WE CAN KEEP AMERICANS SAFE AND MAKE SURE WE BRING A QUICK END TO THIS IN THE BEST WAY POSSIBLE AND BALANCE ALL THE DIFFERENT ASPECTS THAT NEED TO BE THOUGHT OF WHILE WE DO THIS THIS IS A HISTORIC CHALLENGE WE HAVE NOT SEEN SOMETHING LIKE THIS IN A LONG TIME BUT I AM CONFIDENT THAT BY BRINGING INNOVATIVE SOLUTIONS TO THE HEART PROBLEMS, WE WILL MAKE PROGRESS TODAY WE ARE BRIEFING THE PRESIDENT, HE ASKED ME TO COME AND TALK ABOUT WHAT WE HAVE BEEN DOING ON THE SUPPLY-CHAIN TASK FORCE WHICH THE ADMIRAL HAS BEEN LEADING AND HE HAS BEEN IMPRESSED BY THE WAY THAT WE HAVE BEEN RESOURCEFUL DEFINED PRODUCT ALL OVER THE WORLD AND COUNTRY AND WE ARE FINDING WAYS TO SOLVE THE DIFFERENT PROBLEMS THE PRESIDENT HAS BEEN HANDS-ON IN THIS, HE HAS INSTRUCTED US TO LEAVE NO STONE UNTURNED, JUST THIS MORNING I GOT A CALL FROM THE PRESIDENT AND HE TOLD ME HE WAS HEARING FROM FRIENDS OF HIS IN NEW YORK AT THE NEW YORK PUBLIC HOSPITAL SYSTEM WAS RUNNING LOW ON CRITICAL SUPPLIES HE INSTRUCTED ME THIS MORNING, I CALLED DR. KATZ WHO RUNS THE SYSTEM, ASKED HIM WHAT SUPPLY WAS THE MOST HE WAS NERVOUS ABOUT AND HE TOLD ME IT WAS THE N95 MASKS, I ASKED WHAT HIS DAILY BURN WAS AND I BASICALLY GOT THE NUMBER, CALLED UP THE ADMIRAL AND MADE SURE WE HAVE THE INVENTORY, WE WENT TO THE PRESIDENT AND EARLIER TODAY HE CALLED THE MAYOR TO INFORM HIM WE WOULD SEND A SUPPLY TO THE NEW YORK PUBLIC HOSPITAL SYSTEM TO MAKE SURE THE WORKERS ON THE FRONT LINES CAN REST ASSURED THAT THEY HAVE THE N95 MASKS THAT THEY NEED TO GET THROUGH THE NEXT MONTH WE WILL DO SIMILAR THINGS WITH ALL THE DIFFERENT PUBLIC HOSPITALS THAT ARE IN THE HOTSPOT ZONES AND MAKING SURE WE HAVE CONSTANT COMMUNICATION WITH THE LOCAL COMMUNITIES ONE THING I WILL SAY BASED ON DATA IS THAT WE HAVE BEEN GETTING A LOT OF DATA FROM DIFFERENT GOVERNORS AND DIFFERENT MAYORS AND DIFFERENT CITIES, ONE THING I HAVE SEEN PUMA DO WELL OVER THE LAST WEEK OR SO IS WE ARE GETTING REAL- TIME DATA FROM A LOT OF CITIES, PEOPLE WHO HAVE REQUESTED DIFFERENT PRODUCTS AND SUPPLIES, A LOT DOING IT BASED ON PROJECTIONS WHICH ARE NOT REALISTIC PROJECTIONS THEY CHANGE EVERY DAY AS WE SEE THE CASES, THE IMPACTS OF THE STOP THE SPREAD EFFORT THAT THIS TASK FORCE RECOMMENDED AND THE PRESIDENT HAS BEEN PUSHING FORWARD I THINK WE WILL SEE THE IMPACT ABOUT AND THE TASK FORCE HAS BEEN WORKING HARD THROUGH THE

GROUP AND THE ADMIRAL TO MAKE SURE WE ARE GETTING THE SUPPLIES TO PEOPLE BEFORE THEY RUN OUT AND MAKE SURE WE ARE DOING IT IN A PROPER WAY I WOULD LIKE TO INTRODUCE THE ADMIRAL BEFORE COMING TO THIS, STILL IS THE VICE DIRECTOR FOR LOGISTICS FOR THE JOINT STAFF I GOT A CALL FROM ONE OF THE SENATORS SAYING WHY DON’T YOU PUT A GREAT MILITARY PERSON IN CHARGE OF THE LOGISTICS AND SUPPLY CHAIN AND THE DEFENSE PRODUCTION ACT AND ICE OF THE PRESIDENT DID THAT THIS IS THE BEST MAN WE HAVE IN THE COUNTRY FOR SUPPLIES AND LOGISTICS HE JOINED THE TASK FORCE 13 YEARS AGO AND HE HAS BUILT A TEAM AT THE DIRECTION OF THE VICE PRESIDENT THAT INCLUDES PEOPLE FROM FEMA, OMB, FDA, HHS, THE WHITE HOUSE AND EVERYWHERE ELSE WHAT THEY HAVE DONE HAS BEEN EXTRAORDINARY. WE HAVE DONE THINGS THE GOVERNMENT HAS NEVER DONE BEFORE, QUICKER, WE ARE SEEING A LOT OF SUPPLIES IN THE COUNTRY, WE HAVE BEEN DISTURBING THEM WHERE WE ANTICIPATE THERE WILL BE NEEDS AND TRY TO MAKE SURE WE ARE HEADING PLACES WHERE THERE ARE NEEDS I CAN TELL YOU THE PEOPLE IN THE TASK FORCE ARE WORKING DAY AND NIGHT, A LOT OF PEOPLE IN THE GOVERNMENT, WE RECOGNIZE THE CHALLENGE AMERICA FACES NOW AND WE KNOW WHAT A LOT OF THE PEOPLE ON THE FRONT LINES ARE FACING, THE FEAR THEY HAVE THAT THEY WANT HAVE THE SUPPLIES THEY NEED AND THE GOAL IS TO WORK AS HARD AS WE CAN TO MAKE SURE WE DON’T LET THEM DOWN I WANT TO THANK EVERYBODY AND PUT THAT ON THE ADMIRAL IS DOING AN AMAZING JOB >> THANK YOU TODAY I AM GOING TO COVER A COUPLE ITEMS, FIVE THINGS THE FIRST I’M GOING TO TALK ABOUT IS RESOURCES PUSHED OUT FROM THE FEDERAL GOVERNMENT THEN I’M GOING TO TALK ABOUT THIS AIR BRIDGE THAT YOU MAY HAVE HEARD ABOUT I’M GOING TO TALK ABOUT DATA AS YOU HAVE SAID WE ARE, MR KUSHNER IS RIGHT, WE ARE TRYING TO BE DATA-DRIVEN I WANT TO TALK A LITTLE BIT ABOUT HOW WE ARE TRYING TO EXPAND THE INDUSTRIAL BASE TO MEET THE CHALLENGE SO THE FIRST THING I WANT TO TALK ABOUT HIS SURGICAL MASKS WE HAVE QUICKLY STATED NUMBERS HERE, I’M ABOUT TO GO THROUGH SEVERAL DIFFERENT SLIDES TO GET YOU SCALE AND MAGNITUDE OF FEDERAL RESOURCES THAT HAVE BEEN APPLIED AT THE PROBLEM 27.1 MILLION SURGICAL MASKS PUSHED OUT TO STATE GOVERNMENTS N95 MASKS, 19.5 MILLION N95 MASKS . IF I WAS IN A LOCAL HOSPITAL THAT WAS RUNNING SHORT I WOULD LOOK UP THE FEDERAL GOVERNMENT HAS PUSHED OUT RESOURCES SUPPER — DETECTIVE GLOVES, 22.4 MILLION PAIRS OF PROTECTIVE GLOVES FACE SHIELDS, 5.2 MILLION FACE SHIELDS VENTILATORS, WE HAVE PUSHED TO THE STATES MORE THAN 7600 VENTILATORS AND I THINK AS I WAS COMING OVER HERE THE NUMBER HAS CHANGED LIGHTLY IT IS NOW 7640 GIVEN TO THESE STATES, WE WANTED YOU TO HAVE SOME NUMBERS AS WE HAVE INDICATED, WE HAD VENTILATORS IN THE NATIONAL STOCKPILE WE PUSHED VENTILATORS OUT, WE ARE HOLDING VENTILATORS TO PUT TO THE POINT OF NEED BUT WE ARE ALSO BUYING VENTILATORS ASKING THE INDUSTRIAL BASE WHO PRODUCES APPROXIMATELY, PRIOR TO COVID, APPROXIMATELY 30,000 VENTILATORS A YEAR WE ARE GOING OVER THE NEXT SEVERAL MONTHS, BY THE END OF JUNE, WORK TO ACQUIRE 100,000 ONE OF THE TOOLS I WILL ANTICIPATE MEETING AND HAVE EXECUTED IS ALL OF THOSE VENDORS THAT WERE BUYING THEM FROM WILL NEED POTENTIALLY WILL NEED, HELP IN THEIR SUPPLY CHAINS WITH THEIR SUPPLIERS. WE MIGHT RATE ORDERS, HELP THEM GET AHEAD OF OTHERS AND ENDEAVORS I THINK MR. NAVARRO WILL TALK ABOUT THAT LATER LET ME TALK ABOUT THEIR BRIDGE IT NORMALLY TAKES APPROXIMATELY 3070S TO GET FROM OVERSEAS THE PRODUCT, LOAD IT, GET IT TO THE UNITED STATES AND DISTRIBUTE IT 37 DAYS SO TO PRIME THE PUMP SO TO SPEAK, WE HAVE LINED ON AN AIR BRIDGE TO GET PRODUCT HERE,

FASTER WORKING WITH OUR MAJOR SUPPLIERS , AS THEY WORK TO FILL ORDERS, GET MORE TO HEALTHCARE WORKERS KNOW WE ARE WORKING TO ALIGN TRANSPORTATION TO PRODUCT ONE OF THE THINGS WE ARE ALSO DOING IS THE TEAM THAT WORKS FOR ME IS SCOURING THE GLOBE AND FINDING POCKETS OF PERSONAL PROTECTIVE EQUIPMENT THAT MIGHT NOT OTHERWISE BE IN THE U.S HOSPITAL SUPPLY CHAIN THAT IS ALSO GOING ON SIX COMPLETED AND A NUMBER SCHEDULED 28 FLIGHTS SCHEDULED IN THE NEAR FUTURE, WE ARE WORKING TOWARDS SOME DAYS WE WILL HAVE ONE PLATE, SOME DAYS TWO FLIGHTS, MULTIPLE FLIGHT OVER THE NEXT COMING DAYS IS 28 ARE AS FAR AS I CAN SEE OUT A COUPLE WEEKS AND AGAIN, MATCHING PRODUCT, TWO FLIGHTS TO CREATE VOLUME IN THE SUPPLY CHAIN HERE FASTER THAN THE 37 DAYS I AM JUST GOING TO LEAVE THAT UP AS I TALK ABOUT A FEW OTHER ITEMS LET’S TALK ABOUT NEW YORK CITY AND THE PUBLIC HEALTH HOSPITALS I BELIEVE IT’S THEIR CALL TO NEW YORK CITY, HEALTH AND HOSPITALS THE PRESIDENT DIRECTED, AS I SPEAK THERE ARE PELLETS BEING FORMED, TRUCK BEING LOADED, I GAVE AN ADDRESS IN NEW YORK CITY AN HOUR OR TWO AGO, ONE OF THE DISTRIBUTORS IS MAKING THAT HAPPENED AND THAT DELIVERY WILL HAPPEN TOMORROW ON THE DATA FRONT, THIS IS ALMOST UNPRECEDENTED THIS IS A COMMERCIAL SUPPLY CHAIN WITH 6 TO 7 MAJOR DISTRIBUTORS OF HEALTH EQUIPMENT WE BROUGHT THEM ALL IN. WE SAID WE NEED TO MAKE INFORMED DECISIONS AND WE ARE GOING TO HELP MAKE INFORMED ALLOCATION DECISIONS SO WITHIN A MATTER OF DAYS, FEEDING FROM THEIR BUSINESSES AND HOMES, ENTERPRISE RESOURCE LIKE SYSTEMS, I BROUGHT ON BOARD A TOOL AND SUPPLY CHAIN TOWER THAT THE DOD WAS USING TO MANAGE A SUPPLY CHAIN FOR A VERY COMPLEX WEAPON SYSTEM THEIR DATA GOES INTO IT AND WE HAVE A TOOL TO USE THEIR DATA AND SEE IT, I CAN TELL WHAT PRODUCT IS COMING IN, WHAT THEIR ORDERS ARE, WHAT THEY ARE FEELING, WHAT THEY ARE NOT FILLING AND SEE THE VOLUME IN THE SUPPLY CHAIN AND UNDERSTAND WHAT THEY ARE DOING DOWN TO THE COUNTY LEVEL WE ARE WORKING TO GET POTENTIALLY DOWN TO THE HOSPITAL LEVEL. úSO THIS 200 AN RESPIRATORS WE TOOK A LUNG AND WE HAVE THE VOLUME TO GO DO THAT I CALLED THE DISTRIBUTOR AND THEY ARE MAKING THAT HAPPEN WE ANTICIPATE AS THE HOTSPOTS AROUND THE COUNTRY, WE ANTICIPATE THESE VENDORS AT OUR DIRECTION, HELPING THEM ALLOCATE PRODUCT TO THE RIGHT PLACE AT THE RIGHT TIME SO IF I TALK ABOUT EXPANDING THE INDUSTRIAL BASE. THE VICE PRESIDENT WAS AT WALMART THE OTHER DAY WHO TOLD THEM I WANT TO GET IN THIS GAME, HOW DO I DO THAT? SO I GOT THE CALL. WE PROVIDED THEM SPECIFICATIONS AND WALMART IS GOING TO USE THEIR SUPPLIERS TO CUT FABRIC, MAKE GOWNS, PRODUCT, THAT IS NOT ALWAYS THE CASE WE HAVE LOTS OF FOLKS THAT WANT TO HELP, I BELIEVE YOU WILL SEE IN THE NEXT COMING DAYS THE USE OF THE DEFENSIVE PRODUCTION ACT AND CREATIVE WAYS TO HELP PEOPLE THAT ARE NOT DOING THIS TODAY, TO DO IT WE HAVE ESSENTIALLY LEADS THE NUMBER YESTERDAY WAS 210 WE ARE WORKING WITH A GROUP TO FIND HOW EACH ONE OF THOSE MIGHT NEED HELP TO GET IN THE GAME THAT IS NOT A GAME TO INCREASE THE THROUGHPUT THROUGH THE HEALTHCARE MARKET THE PRESIDENT GAVE ME ONE TASK, GET MORE TO THE HEALTHCARE WORKERS NOW I TOOK THAT TO HEART BECAUSE I HAVE, NOT THAT I DON’T NEED THAT FROM THE PRESIDENT, DIRECTION TO MOVE OUT BUT I HAVE FAMILY IN NEW YORK, MY SISTER IS A NURSE PRACTITIONER IN WESTCHESTER HOSPITAL AND MY NIECE IS A NURSE IN THE

LONG ISLAND HOSPITAL AND I HAVE OTHER HEALTHCARE PROFESSIONALS IN THE FAMILY I HAVE SKIN IN THIS GAME AND THE PRESIDENT ASKED ME TO GET MORE HEALTHCARE WORKERS, WE WILL GET MORE HEALTHCARE WORKERS I WOULD LIKE TO HANDED OVER TO MR. NAVARRO THE 200,000 IS GOING OUT AS WE SPEAK IT WILL BE DELIVERED TOMORROW >> LET ME BE CLEAR IF I CAN WHAT JARED ANNOUNCED, WITH THE ADMIRAL UNPACKED IS PELLETS ARE BEING LOADED NOT TO SEND 200,000 N95 MASKS TO NEW YORK CITY, TO THE PUBLIC HEALTH HOSPITALS >> TO THE PUBLIC HEALTH WAREHOUSE IN NEW YORK CITY >> ALL THE HEALTHCARE WORKERS, HELP IS ON THE WAY >> Reporter: ON THE TOOLS AND DATA YOU HAVE AVAILABLE, WHERE IS THE LOGJAM? HOW HAVE YOU HAVE IDENTIFIED THAT? YOU SAY ALL THIS, WE HAVE MILLIONS MORE PPE IS GOING OUT THE DOOR BUT THE FRONTLINE MEDICAL WORKERS STASH >> WE PUT UP A LOT OF NUMBERS, I SAID IF YOU ARE NOT IN A HOSPITAL AND NOT SEEING PPE I WOULD LOOK UP TO THE STATE LEVEL FIRST >> Reporter: [ INAUDIBLE QUESTION ] >> ACCORDING TO GOVERNORS AND BY THE FACT THAT WE HAVEN’T SEEN ANY NUMBERS UP THERE ABOUT WHAT IS GOING TO THE PRIVATE SECTOR, CAN YOU TELL US WHAT PERCENTAGE OF THE SUPPLIES ON THESE LARGE CARGO PLANES ARE GOING TO PRIVATE COMPANIES VERSUS FEMA, THE STATE? 80%? >> THIS PRODUCT WE ARE MOVING AS PRIMARILY COMMERCIAL PRODUCT THAT WOULD ENTER THE COMMERCIAL SYSTEM AND BE DISTRIBUTED THROUGH FINANCIAL BUSINESS TRANSACTIONS BETWEEN HOSPITALS AND THE DISTRIBUTORS >> Reporter: THAT EXPLAINS WHY STATES SAY THEY ARE BIDDING LIKE THEY ARE ON eBAY THE SUPPLIES ARE GOING TO THE PRIVATE SECTOR AND THEY HAVE TO GO THERE TO GET THE SUPPLIES >> THAT IS NORMALLY HOW THINGS WORK I AM NOT HERE TO DISRUPT A SUPPLY CHAIN THESE SIX DISTRIBUTORS HAVE 6 TO 700 WAREHOUSES THEY HAVE TRUCKS TO GO TO THE HOSPITAL DOOR EVERY DAY WE ARE BRINGING PRODUCT IN, THEY ARE FILLING ORDERS FOR HOSPITALS, NURSING HOMES LIKE NORMAL I AM PUTTING VOLUME INTO THAT SYSTEM I WOULD SAY WE HAVE THE DATA, WE PUT TOGETHER THIS DATA ELEMENT OVER THE LAST 13 DAYS GET THE PEOPLE IN, LOOK AT THE PROBLEM, BUILD THIS I AM NOW SEEING TRUTH ABOUT WHAT’S IN THE SUPPLY CHAIN I WOULD SAY THAT THERE HAS BEEN SOME ABNORMAL BEHAVIOR >> Reporter: [ INAUDIBLE QUESTION ] >> YES, IT WILL WE WILL TALK ABOUT THAT WE ARE ONLINE TO RECEIVE SEVERAL THOUSAND VENTILATORS IN THE MONTH OF APRIL AND SEVERAL THOUSAND MORE IN THE MONTH OF MAY RAMPING UP TO A BIG NUMBER GOING FROM AN INDUSTRY THAT PRODUCES 30 ANNUAL, 30,000 ANNUAL TO A BIG NUMBER >> Reporter: [ INAUDIBLE QUESTION ] >> WE MARRY UP, WE ARE MARRYING UP FOR CDC, THE DEMAND FOR COVID IS TO WHAT IS IN THE COMMERCIAL SYSTEM WE ARE PROVIDING THAT TO THE COMMERCIAL SYSTEM AND WE ARE MAKING ALLOCATIONS TO THOSE MOST PRESSING NEED 13 DAYS, WE HAVE THE DATA, WE CAN MAKE INFORMED DECISIONS AND SO ALL OF THE I NEED, I NOW KNOW THE VOLUME THAT HAS BEEN HAPPENING AND NEEDS TO BE HAPPENING >> Reporter: [ INAUDIBLE QUESTION ] >> LET ME GIVE YOU THE BIGGER

VIEW AND WE WILL DIRECTLY ADDRESS THAT BUT WE HAVE ESSENTIALLY IS A NATION AT WAR, WE HAVE A WARTIME PRESIDENT STANDING BEHIND ME THE DEFENSE PRODUCTION ACT IS ONE OF THE MOST POWERFUL WEAPONS THIS ADMINISTRATION CAN USE TO FIGHT THE INVISIBLE ENEMY OF THE VIRUS WHEN I SPOKE WITH YOU LAST WEEK I EXPLAINED THE THREE POINTS OF THE COMPASS, DPA CAN BE USED TO HIT THE FIRST ONE IS MOBILIZATION IN THE INDUSTRIAL BASE THIS CAN INVOLVE THINGS LIKE REPURPOSE THINK — REPURPOSE THING — IT CAN ALSO INVOLVE EXPANSION OF PRODUCTION WHICH IS HAVING HONEYWELL WHICH MAKES AND 95 MASKS OPEN NEW FACTORY AND SUBMIT STASH WITH RESPECT TO THE SECOND POINT OF THE COMPASS ALLOCATION OF RESOURCES YOU HAVE TWO ISSUES THERE IF YOU LOOK AT THE MANUFACTURER ITSELF, WHAT YOU WANT TO MAKE SURE IS THAT THE SUPPLY CHAIN WHICH CAN GO SEVEN TEARS DEEP HAS ENOUGH COMPONENTS IN THE SUPPLY CHAIN SO WE CAN MAKE WHAT WE NEED AND ONCE IT IS MADE YOU WANT TO MAKE SURE IT GOES TO THE RIGHT PEOPLE AND THE THIRD POINT IN THE COMPASS WHICH ADDRESSES WHAT YOU ARE TALKING ABOUT IS BASICALLY HOARDING OF CRITICAL OR THREATENED MATERIALS LET ME WALK THROUGH WITH THE PRESIDENT DID TODAY IN TERMS OF STRONG ACTION AND WHAT WE HAVE DONE IN THE PROCESS THE FIRST ORDER PRESIDENT TRUMP SIGNED WAS VIGOROUS, SWIFT, IT WAS THE GM ORDER THAT DIRECTED GM TO MAKE VENTILATORS, AS FAST AS POSSIBLE THE PRESIDENT MENTIONED HE SPOKE TO TO MARY BAR, THE CEO AND THAT IS MOVING FORWARD AND AT THE SAME TIME AS THE FORD PROJECT HE’S MOVING FORWARD IN MICHIGAN AND I HAVE ISSUED A CHALLENGE TO THE COMPANIES, LET’S SEE WHO GETS THOSE OUT FIRST THE SECOND POINT OF THE COMPASS WHICH THESE TWO ORDERS ADDRESS TODAY, ALLOCATION OF RESOURCE ISSUES THE VENTILATOR COMPANIES THEMSELVES EXPRESSED CONCERN THAT IN THIS RUSH TO BUILD VENTILATORS THEY WOULD PUT PRESSURE ON THE SUPPLY CHAIN, THEY REQUESTED WE DO AND THE PRESIDENT DO TO USE THE DPA TO GIVE THIS GENTLEMAN HERE AND GIVE HIM THE ABILITY TO PRIORITIZE THE SUPPLY CHAIN FOR THOSE VENTILATOR MANUFACTURERS HE WOULD DO THINGS LIKE GIVE THEM WHAT IS CALLED A RATING IN THE DEFENSE PROCUREMENT WHICH WOULD ALLOW THEM TO GET THEM WHAT THEY NEED THE SECOND ORDER THE PRESIDENT SIGNED TODAY HAS TO DO WITH THE OTHER PART OF THE EQUATION ONCE THEY MAKE THE STUFF, WHERE DOES IT GO, TO THE RIGHT FOLKS THIS IS A 3M ORDER AND TO BE FRANK, OVER THE LAST SEVERAL DAYS WE HAVE HAD SOME ISSUES MAKING SURE THAT ALL OF THE PRODUCTION THAT 3M DOES AROUND THE WORLD, ENOUGH OF IT IS COMING BACK HERE TO THE RIGHT PLACES SO WHAT WILL HAPPEN WITH THE SIGNING OF THE ORDER IN TRUMP TIME AS WE RESOLVE THAT ISSUE WITH 3M PROBABLY BY TOMORROW, CLOSE A BUSINESS WE CAN’T AFFORD TO LOSE DAYS OR HOURS OR MINUTES AND THIS CRISIS NOW THE THIRD PART OF THE COMPASS, THIS THIRD POINT, IF IT GETS TO THE HOARDING ISSUE, HE PRESIDENT IS APPEAR HE’S THE COMMANDER IN CHIEF WE HAVE A SHERIFF IN TOWN, ATTORNEY GENERAL BAR HE SAID I’M GOING TO GO OUT AND BUST THEM AND GUESS WHAT? THREE DAYS AGO, DOJ WENT INTO A WAREHOUSE AND JERSEY, GRABBED PPE AND THE BEAUTY OF THAT, THE BEAUTY OF THAT WAS NOT ONLY SEIZED BUT WITHIN HOURS IT WAS TURNED AROUND AND GIVEN TO HEALTHCARE PROFESSIONALS THAT IS A BEAUTIFUL CASE OF USING THE DPA WHAT WILL HAPPEN TOMORROW, THE PRESIDENT WILL SIGN ANOTHER ORDER WHICH IS IN THE WORKS, THIS IS INTERESTING THERE IS A BLACK MARKET SPRINGING UP WHICH YOU HAVE DESCRIBED WHERE WE ARE HAVING PEOPLE BID AGAINST EACH OTHER, BROKERS COME IN, BIDDING ON ALL THESE DIFFERENT PPE, DRIVING THE PRICE UP AND GUESS WHAT?

THE DOMESTIC SOURCES HERE ARE BEING EXPORTED WHEN PRESIDENT TRUMP HEARD ABOUT THAT, HE SAID THAT’S NOT GONNA HAPPEN ANYMORE ON MY WATCH TOMORROW WE WILL BRING THE ORDER AND WHAT IT WILL DO IS EMPOWER CUSTOMS AND BORDER PROTECTION WITH THE HELP OF PEOPLE LIKE THE POST OFFICE AND EXPRESS MILK CONTAINERS LIKE UPS TO BASICALLY DEAL WITH THAT ISSUE WE ARE GOING TO CRACKDOWN UNMERCIFULLY AND I WOULD SAY TO THE HOARDERS OUT THERE, THE BROKERS WHO ARE TRYING TO MAKE MONEY OFF THE MISERY OF PEOPLE IN THIS COUNTRY AND AROUND THE WORLD, THAT HAS TO STOP YOU HAVE INVENTORY WHICH YOU NEED TO DO IS PICK UP THE PHONE AND NOT CALL SOMEBODY OUT AROUND THE WORLD YOU CALL FEMA AND SAY WE HAVE SOME STUFF AND WE WILL GET IT TO YOU AT A FAIR PRICE AND BE DONE WITH IT THAT HAS TO STOP HANG ON THAT IS WHAT WE WILL BE LOOKING FOR AND WHEN WE HEAR CASES LIKE THIS, WE WILL AGGRESSIVELY ISSUE ORDER AFTER ORDER TO CRACK DOWN ON IT THIS IS NOT MY WORLD TO TAKE A BUNCH OF QUESTIONS LET ME TELL YOU ONE OTHER THING BEFORE I LEAVE THE PODIUM IT’S A STORY THAT I WOULD LOVE TO SHARE WITH YOU TODAY IT ILLUSTRATES ONE OF THE KEY PRINCIPLES OF THIS PRESIDENT AND VICE PRESIDENT WHICH IS THE FULL FORCE OF THE FEDERAL GOVERNMENT AND THE FULL POWER OF PRIVATE ENTERPRISE TWO DAYS AGO WE HAD THE WHITE HOUSE AND GOT AN URGENT SOS FROM THE CHIEF OF POLICE OF THE NEW YORK POLICE DEPARTMENT THEY ARE IN A SITUATION NOW BECAUSE OF THE STRAIN