3M Strikes Deal with President Trump to Bring 166.5 Million Masks to the U.S

President Trump announced on Monday that the White House and 3M have “reached an agreement” that will bring more than 55 million masks to the U.S. each month.

Under the terms of the new deal, 3M will deliver 166.5 million respirator masks to the U.S. “over the next couple of months.” The additional masks will supplement the 35 million masks 3M produces domestically each month.

According to Trump the deal reached was a “very amicable agreement” and “the 3M saga ends very happily.”
Trump made the remarks at a White House press briefing on the coronavirus outbreak.

“I want to thank President Trump and the Administration for their leadership and collaboration,” 3M CEO Mike Roman stated.

“We share the same goals of providing much-needed respirators to Americans across our country and combating criminals who seek to take advantage of the current crisis. These imports will supplement the 35 million N95 respirators we currently produce per month in the United States,” Roman said.

The imported masks will primarily come from China starting this month. “The Administration is committed to working to address and remove export and regulatory restrictions to enable this plan,” 3M said.

“We’re very proud to be dealing, now, with 3M,” Trump said at the press conference. The president added that he thanked Roman, who was “very happy to get it done.”

Disclaimer: We have no position in 3M Co. (NYSE: MMM) and have not been compensated for this article.