Coronavirus: US Congress, negotiators reach deal on $2-trillion relief package
White House official Eric Ueland declared that a deal has been finally reached and it will soon be released for aiding various services and sectors that have been left in turmoil due to the spread of Covid-19.
In a move to combat the looming financial crisis caused by the novel coronavirus, United States senators and officials from the Donald Trump administration finalised a $2 trillion package.
White House official Eric Ueland declared that a deal has been finally reached and it will soon be released for aiding various services and sectors that have been left in turmoil due to the spread of Covid-19.
"We have a deal," he told reporters following days of negotiations between the Trump administration and US Congress senators.
US stock markets are likely to surge again when they open for trading as the economic relief package has finally been approved.
It could be a game-changer not only for stock market investors but also for several businesses who have lost significant revenue during the period and risk losing more.
Governments around the world including China have released economic stimulus packages to calm down anxious businessmen and traders who have had to shut shop due to the novel coronavirus outbreak.
The Indian government, too, plans to provide an economic relief package soon and a multilayered team of financial experts are finalising the plan before it is formally announced by Finance Minister Nirmala Sitharaman.
A financial package will be key for the survival of many businesses in India during the three-week lockdown to tackle Covid-19.
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