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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