Coronavirus presses Trump to take Govt. stake in certain companies


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Coronavirus presses Trump to take Govt. stake in certain companies

On Thursday, the 19th of March 2020, as a withering wave of coronavirus pandemic has been pouring away the last line of traditional US defence mecahnism to cushion up its highly privatized corporate culture, US President Donald Trump had indicated a radical transformation of US Government’s relationship to the US-based private enterprises saying that he would back a proposal of taking stakes in certain US companies, a measure widely practiced in populist economies and largely contrary to Trump’s business principles.

Nonetheless, while being asked on whether the White House had been in discussions to take stakes in coronavirus-battered companies to avert an en masse rout alongside to limit impacts of an almost inevitable recession, a spokeswoman for White House had declined to comment over the issue citing the sensitive nature of the subject-matter.

Meanwhile, as the US economy might be looking at a much longer-than-anticipated recession amid ballooning newer coronavirus cases in the United States, which analysts said would highly likely to get worsened before it would reach a plateau phase or peak, Trump said in a news conference at the White House on Thursday (March 19th), “We will be helping the airline industry. We will be helping the cruise ship industry. We probably will be helping the hotel industry. ”