Glacier FarmMedia COVID-19 & the Farm

Global Markets: Trump eager to ease restrictions, restart U.S. economy

By MarketsFarm

WINNIPEG, April 17 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– United States President Donald Trump said on Thursday that some states could ease social distancing and lockdown measures within four weeks. Despite the U.S. contending with more than 671,000 reported cases of COVID-19, which has brought in excess of 33,000 deaths, Trump is eager to restart the country’s sagging economy. He proposed each state would have the ability to lift restrictions as they saw fit. That marked an about-face for the president, who claimed earlier this week that he has sole authority to lift the restrictions.

– Canadian Prime Minister Justin Trudeau said on Thursday restrictions on crossing the Canada/U.S. border are to remain in place for the time being. Trudeau’s comments contradicted Trump’s assertion that the border could be one earliest to be reopened. In March, the Trudeau government criticized Trump’s proposal to deploy U.S. troops along the border to stem the spread of COVID-19.

– As a result of the pandemic, China’s economy plummeted 6.8 per cent from a year ago, according to reports on Friday. That marked China’s worst economic performance since 1992. Retail sales in March fell 15.8 per cent and investment dropped 16.1 per cent. However, there were some signs of recovery as China’s unemployment improved slightly from 6.2 per cent in February to 5.9 in March. Also, industrial production was down by only 1.1 per cent, when a larger decline was expected.

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