Back at the White House, Donald Trump throws markets into turmoil | DW News

Back at the White House, Donald Trump throws markets into turmoil | DW News

US President Donald Trump on Tuesday ordered a stop to negotiations with Democrats on a new economic stimulus package that would provide additional COVID-19 relief until after the presidential election on November 3. "I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major stimulus bill that focuses on hardworking Americans and small business," tweeted the president.
The surprise announcement caused US stock markets to tumble. Nancy Pelosi, the Democratic speaker of the House of Representatives, had been negotiating the terms of the next federal coronavirus aid deal with US Treasury Secretary Steven Mnuchin over the past week. The Democrats were seeking around $2.2 trillion (€1.9 trillion) in new spending against the administration’s offer of $1.6 trillion. The bill was to build on the more than $3 trillion in coronavirus aid enacted into law earlier this year to bolster the US’ pandemic-battered economy. Trump’s sudden decision to end talks on the coronavirus stimulus package was met with fierce criticism from Democrats, as well as some Republican lawmakers.
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