The epidemic of new coronavirus, has already sank Wall Street. This Wednesday, US President Donald Trump presented his remedies. In a solemn address of ten minutes, the American president announced a battery of measures, but also that he suspended all travel from Europe – except the United Kingdom – to the States- United for 30 days.
See also – Coronavirus: Donald Trump announces economic measures for affected Americans
A measure which must take effect Friday at midnight (4 am Saturday) and which will hit airlines including American airlines hard. They were plunged into a crisis of unknown magnitude since the September 11 attacks by the ravages of the coronavirus. The President implied – by mistake – that these restrictions could also apply to products from Europe and not just to travelers. The official proclamation released later that evening by the White House made it clear that the president “continues to commit to facilitate trade between our nations“
To clear up any confusion, Trump was forced to tweet in the process: “Please remember, it is very important that countries and companies know that trade will not be affected in any way»By restrictions on travel from Europe. Asian financial markets reacted badly to this news, Hong Kong and Tokyo losing 3% and 2% respectively at the opening.
While repeatedly emphasizing the strength of the U.S. economy – a prime issue for the billionaire running for a second term – Donald Trump called on Congress to quickly adopt lower payroll taxes.
“I call on Congress to quickly offer Americans lower payroll taxes“He launched although this proposal, made by his administration at the beginning of the week, did not have a very favorable response with the elected officials, including his own party. Trump also announced that the deadline for paying taxes will be extended for some “individuals and businesses“, Which according to him allows immediate reinjection”$ 200 billion in additional liquidity in the economy“
A few hours before his speech, one of his favorite barometers posted a storm warning. The New York Stock Exchange experienced another plunge, which was the reason for 11 years of uninterrupted rise in the financial markets. Among other measures, the president ordered his administration to provide “of capital and liquidity to companies affected by the coronavirusIn the form of low interest loans.
In an attempt to stem the epidemic, Trump also promised to tackle one of the weakest links in the response: the absence or very limited number of paid sick days. “To make sure American workers affected by the virus can stay at home without fear of loss of income, I will soon be announcing unprecedented measures to provide financial assistancePromised the president.
The United States surpassed the 1,200 cases of infection with the new coronavirus on Wednesday, and 38 people died, according to statistics from the American University Johns Hopkins.