NSTworld: US President DonaldTrump on Wednesday announced measures meant to shore up an economy reeling from the new coronavirus pandemic. covid19
He also imposed a travel ban on mainland Europe for 30 days and stated trade would be halted, although he later backtracked the latter part.
Trump also said he would instruct the US Treasury to defer tax payments “for certain individuals and businesses negatively impacted” by the pandemic, a move he said would inject more than $200 billion of liquidity into the American economy. In his address, he said, “These prohibitions will not only apply to the tremendous amount of trade and cargo, but various other things as we get approval,” a drastic step given Washington’s multiple rounds of trade conflicts and tariffs on goods from Europe and elsewhere.
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