As President Donald Trump scrambles for new ways to cushion the economic blow from the fast spreading coronavirus, industry groups, lawmakers and even some government officials are reviving a previous request: cut tariffs on Chinese and other imported goods.
As the coronavirus spreads around the country, small business owners are beginning to feel early impacts such as supply-chain problems and lost sales.
Lew said the corporate tax cut created by the current administration should have put most large businesses in a strong cash position.
The Bulgarian parliament voted unanimously on Friday to declare a state of emergency until April 13 to contain the spread of coronavirus after the number of confirmed cases in the country more than tripled to 23.
Iran's security forces will empty the streets of its cities in the next 24 hours in a drive to fight the spread of the new coronavirus, state news agency IRNA reported on Friday.
Warren Buffett's Berkshire Hathaway Inc said on Friday it will hold its annual meeting as scheduled on May 2, but without shareholders in physical attendance due to the coronavirus outbreak.
Bank of Japan Governor Haruhiko Kuroda said on Thursday that the central bank was dealing with the coronavirus's impact on the economy and that he was ready to respond with further steps without hesitation.
Washington state's House of Representatives passed a measure on Wednesday night that removes a key tax break for Boeing Co and other aerospace firms, in a bid to head off possible European tariffs on U.S. goods and ease a transatlantic trade dispute over aircraft subsidies.
Oil prices sank again on Thursday along with the broader market after the United States banned travel from Europe following a World Health Organization declaration that the coronavirus outbreak is now a pandemic.
Bank of Japan Governor Haruhiko Kuroda said the central bank was ready to respond with further steps to support the economy, after a meeting with Prime Minister Shinzo Abe on Thursday.
Financial markets reeled on Thursday as stocks dived and oil slumped after U.S. President Donald Trump took the dramatic step of banning travel from Europe to reduce the impact of the coronavirus, threatening more disruptions to trade and the world economy.
Chinese airlines reported a total loss of 20.96 billion yuan ($3 billion) in February as the coronavirus epidemic spread and hit travel demand, the aviation regulator said on Thursday.
A clampdown on European travel to the United States will heap more pressure on airlines already reeling from the coronavirus pandemic, analysts said, raising the odds of government relief packages as billions of dollars of tourist spending vanish.
Oil prices fell for the second straight day on Thursday amid a broad decline in global markets after the United States banned travel from Europe following the World Health Organization's decision to declare the coronavirus outbreak a pandemic.
Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy - a sharp rise in payouts at a time of big investment losses.