Donald Trump Plans on Re-Opening the US Economy; business Leaders Opposed
With an assumption that the USA has passed its coronavirus peak, President Donald Trump is actively contemplating the reopening of the US economy. However, the truth of the matter is that the US is still nowhere close to the amount of testing that it should do in order to be absolutely sure about the flattening of the virus spread.
Reacting to Trump’s though about reopening the economy, business leaders and economists across the country opined that it would be incredibly absurd to go back to normal at the present scenario.
According to reports from the WSJ, members of Trump’s first task force have suggested him to dramatically increase testing capabilities in the country, before planning to re-open the economy.
Trump initially targeted the Easter Sunday to allow re-opening of certain businesses, but in his recent statement, he hinted towards doing it May 1st onwards.
However, Trump’s thought process has not gone down well with many leaders in the business space.
Unfortunately, Trump Admin is moving in the wrong direction: testing dropped 30% over the last week. https://t.co/8XPc1CId7S
— Ted Lieu (@tedlieu) April 15, 2020
Brian Moynihan, CEO of Bank of America suggested that the administration must focus on enhanced testing and strategies to contain the spreading of the virus.
Mentioning that his bank is not eager to risk the health of 150,000 employees, he stated, “We’ll bring people back—first when we’re allowed to—but we’ll also bring people back on a view that we don’t want to change the course of action until we know it’s going to be stable.”
JPMorgan Chase CEO Jamie Dimon expressed similar ideas.
Amid return plans, Donald Trump has escalated his allegation towards the WHO. Recently, he targeted the global health organization mentioning that it has a bias towards China, the country which first reported the COVID-19. As per the latest reports, Trump has suspended all funding to the WHO.
It will be interesting to note how Trump handles the current scenario and aligns his re-opening thoughts. As of now, the US is the worst affected country in the world and has surpassed China, Italy, and Spain in terms of positive cases.