White House Prepares Measures to Address Economic Impact of COVID-19

On the 9th, plans to prevent economic damage from Trump will be reported
On the 11th, a Trump-Wall Street executives meeting is also scheduled

[Asia Economy New York=Correspondent Baek Jong-min] The White House is reportedly considering policy alternatives such as paid sick leave and support for small businesses in response to the economic impact of the novel coronavirus infection (COVID-19). A financial industry meeting attended personally by President Donald Trump is also scheduled.

The Washington Post (WP) reported on the 9th (local time), citing an official, that White House advisors plan to present President Trump with a list of policy changes aimed at mitigating the economic damage caused by COVID-19, including paid sick leave and emergency support for small businesses.

The list is known to include tax deferrals for specific industries hit by the economic downturn caused by COVID-19, such as hospitality and travel, as well as cash liquidity injections to small businesses through the Small Business Administration. Discussions on paid sick leave policies are also being considered.

Separately, a meeting between President Trump and Wall Street executives to discuss the stock market plunge is also scheduled.

The meeting is set to take place on the 11th, with invitations sent to Wall Street executives at the White House. The meeting is drawing attention as a countermeasure session following the sharp declines in U.S. and global stock markets amid the spread of COVID-19 and the oil price crash.

WP described that the White House is facing strong pressure to prevent stock price declines and stabilize the economy.

This content was produced with the assistance of AI translation services.