Trump "Orders Stimulus Bill Over $1.8 Trillion"

Possibility of Agreement Before Presidential Election Mentioned
"Stimulus Needed Because China Caused the Crisis"

[Image source=AP Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] U.S. President Donald Trump said he instructed Treasury Secretary Steven Mnuchin to prepare a stimulus bill exceeding $1.8 trillion.

On the 15th (local time), President Trump stated in an interview with Fox Business, "I told Secretary Mnuchin to bring a stimulus plan of more than $1.8 trillion, but he has not yet completed the task."

He asserted, "The Democrats want to support states like New York that are facing financial difficulties due to the COVID-19 crisis, but I want support for the workers."

President Trump also predicted that a stimulus bill agreement could be reached even before the November election. A day earlier, Treasury Secretary Steven Mnuchin had forecasted that reaching a stimulus bill agreement before the election would be difficult.

President Trump argued that the current economic crisis was caused by China, so additional stimulus legislation is necessary. He also mentioned that he does not want to have a phone call with Chinese President Xi Jinping.

When asked which taxes he would cut if re-elected, President Trump said he would reduce income taxes for the middle class.

Following President Trump's remarks, the New York stock market slightly reduced its losses. As of 11:20 a.m., the Dow Jones Industrial Average was down 0.4%. The Dow opened the day down 1%.

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