The US will suffer an economic impact in the “short run” because of the coronavirus pandemic, but part of President Trump’s strategy will involve the passage of a massive package that will provide a lift for the economy as the nation comes out of the emergency, White House Director of Trade and Manufacturing Policy Peter Navarro said Sunday.
“President Trump has a clear battle plan,” he said in a TV interview. “The tip of the spear is mitigation measures that the American people have to embrace so they can slow down the spread of the virus, flatten the curve.“
Mr. Navarro said at this point, the strategy involves getting the nation’s supply chain to deliver the face masks, gloves, ventilators, and other equipment to the healthcare workers and doctors who need them.
The good news is, though, that the government and the “full force” of American enterprise are working together, he said.
“Just in the space of a week, we’ve had close to a million swabs delivered with the help of the Pentagon and FedEx (NYSE:FDX) spread across the country,” said Mr. Navarro. “Pernod (OTC:PERDY) which is a liquor company, has donated hand sanitizer with their production line. We will get trucks coming into New York City Tuesday.“
Further the National Council of Textile Organizations “will give us millions of masks.””They are immediately hitting the ground running on that…the American people should be comfortable because the full power of American production is coming, just like in World War II.”
The bill being considered this week in Congress, will include assistance and fiscal stimulus, and will impact industry and liquidity need, he said.
Have a healthy week, stay home!
Latest posts by Paul Ebeling (see all)
- Wall Street’s Key Stock Analysts Research Report, All Buys - April 2, 2020
- Gold is the ‘Go To’ Asset in Times of Crisis - April 2, 2020
- Thursday’s World Stock Markets Update: Asia and Oceania - April 2, 2020