White House aiming for Trump pivot from coronavirus to economy - The Globe and Mail | Canada News Media
Connect with us

Economy

White House aiming for Trump pivot from coronavirus to economy – The Globe and Mail

Published

 on


U.S. President Donald Trump stands as Vice President Mike Pence speaks about the coronavirus in the James Brady Press Briefing Room of the White House in Washington on April 20, 2020. The White House is planning to shift President Donald Trump’s public focus to the burgeoning efforts aimed at easing the economic devastation caused by the pandemic.

The Associated Press

After two months of frantic response to the coronavirus, the White House is planning to shift U.S. President Donald Trump’s public focus to the burgeoning efforts aimed at easing the economic devastation caused by the pandemic.

Days after he publicly mused that scientists should explore the injection of toxic disinfectants as a potential virus cure, Mr. Trump has now rejected the utility of his daily task force briefings, where he has time and again clashed with scientific experts. Mr. Trump’s aides are aiming to move the President onto more familiar – and safer, they hope – ground: talking up the economy, in tighter controlled settings.

It’s a political imperative as allies have seen an erosion in support for the President. What had been his greatest asset in the re-election campaign, his ability to blanket news headlines with freewheeling performances, has become a daily liability. At the same time, new Republican Party polling shows Mr. Trump’s path to a second term depends on the public’s perception of how quickly the economic rebounds from the state-by-state shutdowns meant to slow the spread of the virus.

Story continues below advertisement

Some states have started to ease shutdown orders, and Mr. Trump is expected to begin to highlight his administration’s work in helping businesses and employees. Aides said the President would hold more frequent round-tables with CEOs, business owners and beneficiaries of the trillions of dollars in federal aid already approved by Congress, and begin to outline what he hopes to see in a future recovery package.

Mr. Trump last left the White House grounds a month ago, and plans are being drawn up for a limited schedule of travel within the next few weeks, an aide said. It would be a symbolic show that the country is beginning to reopen.

The shift comes in conjunction with what the White House sees as encouraging signs across the country, with the pace of new infections stabilizing and deaths declining.

Still, medical experts warn that the virus will remain until at least a vaccine is developed and that the risk of a severe second wave is high if social distancing is relaxed too quickly or if testing and contact tracing schemes aren’t developed before people return to normal behaviours.

The White House is deliberating whether to continue to hold news briefings in a modified form without Mr. Trump, potentially at a different location. Before Mr. Trump said in a tweet Saturday that they were “Not worth the time & effort,” aides had been eager to use the briefings to highlight positive trends and to overwhelm Americans with statistics. It was an effort to restore confidence in the response so that the public would be comfortable resuming more normal activities.

“We know that’s important,” Deborah Birx, the White House coronavirus task force co-ordinator, told Fox News Channel’s Sunday Morning Futures. “We understand those messages of science and policy need to be brought forward to the American people in a non-political way.”

Few Americans regularly look to or trust Mr. Trump as a source of information on the pandemic, according to a survey from The Associated Press-NORC Center for Public Affairs Research released last week.

Story continues below advertisement

On Monday, the White House is expected to release a recap of what the federal government has done so far to improve the availability of COVID-19 testing, personal protective equipment and ventilators.

Still, governors in both parties say much more is needed, particularly in testing, in the coming months, as they deliberate how and when to reopen their states.

“I want to get our economy back opened just as soon as we can, but I want to do so in a safe way so we don’t have a spike, we don’t cause more deaths, or an overloading of our health care system,” Governor Larry Hogan, a Republican from Mayland, told ABC’s This Week.

Dr. Birx expressed frustration that Mr. Trump’s injection comments were still in the headlines, illustrating the tensions that have emerged between the President and his medical advisers.

“As a scientist and a public health official and a researcher, sometimes I worry that we don’t get the information to the American people that they need, when we continue to bring up something that was from Thursday night,” she said on CNN’s State of the Union.

As the White House aims to turn a corner, it is also beginning to assess responsibility for critical missteps. Two senior administration officials said Mr. Trump has begun discussions about replacing Health and Human Services Secretary Alex Azar, who led the coronavirus task force during its initial weeks and has been blamed for a culture of bureaucratic infighting during that period. Mr. Azar has been largely sidelined since Vice-President Mike Pence took charge of the task force in late February.

Story continues below advertisement

Sign up for the Coronavirus Update newsletter to read the day’s essential coronavirus news, features and explainers written by Globe reporters and editors.

Let’s block ads! (Why?)



Source link

Continue Reading

Economy

Statistics Canada reports wholesale sales higher in July

Published

 on

 

OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

B.C.’s debt and deficit forecast to rise as the provincial election nears

Published

 on

 

VICTORIA – British Columbia is forecasting a record budget deficit and a rising debt of almost $129 billion less than two weeks before the start of a provincial election campaign where economic stability and future progress are expected to be major issues.

Finance Minister Katrine Conroy, who has announced her retirement and will not seek re-election in the Oct. 19 vote, said Tuesday her final budget update as minister predicts a deficit of $8.9 billion, up $1.1 billion from a forecast she made earlier this year.

Conroy said she acknowledges “challenges” facing B.C., including three consecutive deficit budgets, but expected improved economic growth where the province will start to “turn a corner.”

The $8.9 billion deficit forecast for 2024-2025 is followed by annual deficit projections of $6.7 billion and $6.1 billion in 2026-2027, Conroy said at a news conference outlining the government’s first quarterly financial update.

Conroy said lower corporate income tax and natural resource revenues and the increased cost of fighting wildfires have had some of the largest impacts on the budget.

“I want to acknowledge the economic uncertainties,” she said. “While global inflation is showing signs of easing and we’ve seen cuts to the Bank of Canada interest rates, we know that the challenges are not over.”

Conroy said wildfire response costs are expected to total $886 million this year, more than $650 million higher than originally forecast.

Corporate income tax revenue is forecast to be $638 million lower as a result of federal government updates and natural resource revenues are down $299 million due to lower prices for natural gas, lumber and electricity, she said.

Debt-servicing costs are also forecast to be $344 million higher due to the larger debt balance, the current interest rate and accelerated borrowing to ensure services and capital projects are maintained through the province’s election period, said Conroy.

B.C.’s economic growth is expected to strengthen over the next three years, but the timing of a return to a balanced budget will fall to another minister, said Conroy, who was addressing what likely would be her last news conference as Minister of Finance.

The election is expected to be called on Sept. 21, with the vote set for Oct. 19.

“While we are a strong province, people are facing challenges,” she said. “We have never shied away from taking those challenges head on, because we want to keep British Columbians secure and help them build good lives now and for the long term. With the investments we’re making and the actions we’re taking to support people and build a stronger economy, we’ve started to turn a corner.”

Premier David Eby said before the fiscal forecast was released Tuesday that the New Democrat government remains committed to providing services and supports for people in British Columbia and cuts are not on his agenda.

Eby said people have been hurt by high interest costs and the province is facing budget pressures connected to low resource prices, high wildfire costs and struggling global economies.

The premier said that now is not the time to reduce supports and services for people.

Last month’s year-end report for the 2023-2024 budget saw the province post a budget deficit of $5.035 billion, down from the previous forecast of $5.9 billion.

Eby said he expects government financial priorities to become a major issue during the upcoming election, with the NDP pledging to continue to fund services and the B.C. Conservatives looking to make cuts.

This report by The Canadian Press was first published Sept. 10, 2024.

Note to readers: This is a corrected story. A previous version said the debt would be going up to more than $129 billion. In fact, it will be almost $129 billion.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

Mark Carney mum on carbon-tax advice, future in politics at Liberal retreat

Published

 on

 

NANAIMO, B.C. – Former Bank of Canada governor Mark Carney says he’ll be advising the Liberal party to flip some the challenges posed by an increasingly divided and dangerous world into an economic opportunity for Canada.

But he won’t say what his specific advice will be on economic issues that are politically divisive in Canada, like the carbon tax.

He presented his vision for the Liberals’ economic policy at the party’s caucus retreat in Nanaimo, B.C. today, after he agreed to help the party prepare for the next election as chair of a Liberal task force on economic growth.

Carney has been touted as a possible leadership contender to replace Justin Trudeau, who has said he has tried to coax Carney into politics for years.

Carney says if the prime minister asks him to do something he will do it to the best of his ability, but won’t elaborate on whether the new adviser role could lead to him adding his name to a ballot in the next election.

Finance Minister Chrystia Freeland says she has been taking advice from Carney for years, and that his new position won’t infringe on her role.

This report by The Canadian Press was first published Sept. 10, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending

Exit mobile version