In his Sunday news briefing on the coronavirus response, President Trump was asked about the Defense Production Act, which the government can use to spur businesses to create needed supplies.
"The fact that I signed it, it's in effect," he said. "But you know, we're a country not based on nationalizing our business. Call a person over in Venezuela, ask them how did nationalization of their businesses work out? Not too well."
The Cold War-era law doesn't nationalize businesses.