Mar. 13, 2020 3:36
President Trump officially declares a national emergency, which will unlock access to $50B in funds.
He's asking hospitals to activate emergency plans.
The order also gives broad authority to the U.S.Health & Human Service Department.
Includes ability to waive some federal laws to allow telemedicine.
The president said his action will also waive interest on all student loans held by government agencies.
Will also purchase more crude oil to add to the strategic petroleum reserve. "We're going to fill it up right to the top," he said.
Trump says a half million more coronavirus tests will be available next week.
There will be some U.S. partnering with the private sector to increase testing.
Google (GOOG +5.9%) is helping to develop a website where people can find drive-through testing sites if they have symptoms, according to Dr. Deborah Birx, White House Coronavirus Response Coordinator. The website will be online starting Sunday evening, Trump said.
Walmart (WMT +6.7%), CVS (CVS +8.6%), Walgreens (WBA +9.2%), Target (TGT +9.7%), Roche Diagnostics (OTCQX:RHHBY), LabCorp (LH +8.6%), and Becton Dickinson (BDX +6.2%) are among companies working with the government.
He doesn't want everyone "running out and taking a test." Only those exhibiting certain symptoms should get tested, he said.
"We will overcome the threat of the virus," he said.
"This will pass through and we will be even stronger for it," he said as he was wrapping up his address.
