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White House aiming for Trump pivot from virus to economy – CTV News

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WASHINGTON —
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, Trump has now rejected the utility of his daily task force briefings, where he has time and again clashed with scientific experts. 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 reelection campaign, his ability to blanket news headlines with freewheeling performances, has become a daily liability. At the same time, new Republican Party polling shows 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.

Some states have started to ease closure orders, and Trump is expected to begin to highlight his administration’s work in helping businesses and employees. Aides said the president would hold more frequent roundtables 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.

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, aide said. It would be a symbolic show that the nation 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 Trump, potentially at a different location. Before 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,” Dr. 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 nonpolitical way.”

Few Americans regularly look to or trust 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.

On Monday, the White House was 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,” Gov. Larry Hogan, R-Md., told ABC’s “This Week.”

Birx expressed frustration that 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 hopes it has turned a corner, it is also beginning to assess responsibility for critical missteps. Two senior administration officials said 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. Azar has been largely sidelined since Vice-President Mike Pence took charge of the task force in late February.

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Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

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TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

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

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

Statistics Canada reports wholesale sales higher in July

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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.

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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