Home » Economy » Trump says US beginning to 'open for business' after coronavirus shutdowns
Trump says US beginning to 'open for business' after coronavirus shutdowns
Trump: America is going to have an economic resurgence
President Trump discusses medical supply capacity in states, the second batch of Paycheck Protection Program loan funding that is expected to pass Congress soon and oil prices.
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President Trump claimed in a Wednesday morning tweet that some U.S. states are beginning to "safely" reopen their economies after implementing strict stay-at-home measures to mitigate the spread of the novel coronavirus.
"States are safely coming back. Our Country is starting to OPEN FOR BUSINESS again," Trump tweeted. "Special care is, and always will be, given to our beloved seniors (except me!). Their lives will be better than ever…WE LOVE YOU ALL!"
US ECONOMIC OUTPUT PLUNGES BY 29% AS VIRUS FORCES WIDESPREAD SHUTDOWNS
Restaurants, bars, hotels, gyms, beauty salons, entertainment venues and other businesses deemed nonessential have been ordered to close throughout the country, with more than 40 states enacting stay-at-home policies in March, bringing American life to a grinding halt.
The result has been an economic free fall that experts caution could rival the Great Depression. In the four-week period through April 11, 22 million Americans filed for unemployment benefits, a stunning sign of the depth of the pain inflicted by the virus outbreak. Economists are increasingly warning of a severe contraction in the second quarter, with some estimates ranging as high as 38 percent.