This is a big sector hit to the U.S. economy. All of the major U.S. auto manufacturers have agreed to shut down all production facilities, through March 30th, in the latest thunder-shock to the economy.
DETROIT – Ford Motor Co., General Motors and Fiat-Chrysler will close their plants due to the coronavirus (COVID-19) outbreak.
Ford said in a statement Wednesday that its U.S., Canadian and Mexican manufacturing facilities will be halted after Thursday evening’s shifts through March 30 to “thoroughly clean and sanitize the company’s plants.”
White House trade adviser Peter Navarro outlines some of the ongoing supply chain initiatives to meet ongoing demands of the corovirus effort. Navarro highlights the cooperation between US government and private enterprise. WATCH:
Earlier today President Trump met with executives from the U.S. tourism industry to discuss how their operation are impacted by the various COVID-19 mitigation efforts.
Participants included: Roger Dow, President & CEO, Travel Association; Chip Rogers, President & CEO, American Hotel & Lodging Association (AHLA); Jon Bortz, President and CEO, Pebblebrook Hotel Trust and AHLA Chairman; Elie Maalouf, President, The Americas, Intercontinental Hotels Group (IHG); Christopher Nassetta, President & CEO, Hilton; Arne Sorenson, President & CEO, Marriott International; Richard Bates, EVP, Disney; Mark Hoplamazian, President & CEO, Hyatt Hotels Corporation; John Sprouls, Chief Administrative Officer, Universal Parks and Resorts; Patrick Pacious, President and CEO, Choice Hotels International; David Kong, CEO, Best Western Hotels and Resorts; Jim Murren, President & CEO, MGM [Video and Transcript Below]
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[Transcript] – THE PRESIDENT: Well, thank you very much. We have the tourism industry executives, the biggest anywhere in the world. These are the great ones, and they’re going to say a couple of little words pretty soon, I think. We’ll talk about their company quickly and the number of employees and what’s happened since the Chinese virus came about. And they’ll be discussing that.
President Trump, Vice-President Pence and Treasury Secretary Steven Mnuchin lead the daily coronavirus briefing on COVID-19 mitigation efforts from the White House.
[Video Below – Transcript Added]
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[Transcript] – THE PRESIDENT: Thank you very much, everyone. Thank you. Progress being made. And I appreciate you all joining us.
Last night, the FDA announced groundbreaking new policies to further increase testing very substantially so. All states can now authorize tests developed and used within their borders, in addition to the FDA. So the states are very much involved. They have been involved from the beginning. But we’re stepping it up as much as we can, and the testing procedures are going well.
Let me say up front, there’s something very sketchy about the wordy explanations provided by National Institute of Allergy and Infections Diseases (NIAID) Director Dr. Anthony Fauci. Listen/watch or read what he says below.
Encapsulating Dr. Fauci’s position: Data on the coronavirus assembled today doesn’t reflect what is actually taking place today, but rather reflects where we were several days ago…. OK, that part makes sense (there’s a lag).
He then goes on to say what is actually happening today will not be included in data until we arrive at a place a few days from now when today’s reality is quantified. Again, that reasonably makes sense… However….
The media is/are reporting on coronavirus impacts in real time. There is no delay in what the media are reporting from various places around the nation. The media reporting reflects what is taking place today; right now… and what the media is reporting today is not worse than the data Fauci is explaining.
Meaning if Dr. Fauci was correct, and if the coronavirus data (the reports of spread) was behind by several days from the reality of today; then what the media would be reporting (the on the ground reality of the spread today) would be significantly worse (higher incidents) than Fauci’s data, which he claims is lagging several days behind….
The problem with that supposition – The media ground reports do not reflect a higher incidence of coronavirus spread than Fauci’s data today.
National Economic Council Director Larry Kudlow discusses what economic options the U.S. government has to mitigate and assist businesses and individuals dealing with the financial impacts of coronavirus.
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Note to Mr. Kudlow: Do not trust Dr. Anthony Fauci.
Fauci is a purposeful panic seller. His goals are not the administrations goals.
White House trade and manufacturing advisor Peter Navarro discusses the administration effort, a possible executive order, to shift U.S. dependency for critical health sector and pharmaceutical products back to domestic production. [Important Discussion]
Earlier this afternoon President Trump and Vice-President Mike Pence held a teleconference with a who’s-who of executives within the U.S. grocery supply chain.
[Per the White House] “Today, President Donald J. Trump held a telephone call with more than two dozen grocery store and supply chain executives from across the country. The President thanked them for the work they have already done to meet the needs of the public and for their continued commitment to the communities they serve.”
“All of the executives are working hand-in-hand with the Federal Government, as well as State and local leaders, to ensure food and essentials are constantly available. The President reminded the participants that this is an all-of-America approach and each of their stores and the stores they support can help Americans feel calm and safe when shelves are stocked with the items they need.”
Treasury Secretary Steven Mnuchin appears on ABC news where Jonathan Karl demands the U.S. Treasury Secretary should collapse the economy. Pathetic and desperate Mr. Karl wants a recession almost as much as he wants the job to replace Stephanopoulos.
This interview is a case study in TDS. The media are addicted to selling a resistance narrative. Coronavirus is to media like crack cocaine is to an addict.
Instead of taking the opportunity with the Treasury Secretary to explain what measures are in place to help businesses deal with financial assistance, and have Mnuchin outline what procedures are in place for them to follow, the media waste ten minutes constructing their anti-Trump narrative for an audience. It is ridiculous.
