Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Trump says reopen by Easter, Corporate America says not so fast

Published 03/25/2020, 05:44 PM
Updated 03/25/2020, 06:40 PM
© Reuters. FILE PHOTO: U.S. President Trump leads coronavirus task force daily briefing at the White House in Washington

© Reuters. FILE PHOTO: U.S. President Trump leads coronavirus task force daily briefing at the White House in Washington

By Diane Bartz

WASHINGTON (Reuters) - President Donald Trump wants America to get back to business by Easter, suggesting some efforts to slow the spread of coronavirus outbreak will no longer be needed by then, but Corporate America is taking its lead from health professionals.

The president, who is concerned about the economic repercussions of an extended shutdown of nonessential business, said in a television interview on Tuesday that he wanted to see businesses returning to normal by Easter, or April 12.

"I would love to have the country opened up and just raring to go by Easter," he said on Fox News Channel. [nL1N2BH18B]

But the U.S. Chamber of Commerce, National Retail Federation and National Restaurant Association pointed to less optimistic recommendations by public health officials. Many of these have urged that Americans stay in their homes as much as possible for weeks to prevent the virus' spread.

"It’s a tough one. I think it would be easier to accept that as something that I would feel comfortable doing if I thought it weren't going to cost lives," said Melanie Krautstrunk, who owns a brew pub in Tennessee, about re-opening by Easter.

A total of 53,541 Americans have tested positive for the virus, and 730 have died. State governors, primarily in the northeast and west coast, have ordered schools and non-essential businesses closed to prevent the disease's spread.

As a result, the number of Americans filing for unemployment benefits surged by the most since 2012 to a 2-1/2-year high, as companies in the service sectors laid off workers, the Labor Department said last Thursday. [nL1N2BC0VF]

Even so, the powerful U.S. Chamber of Commerce said it was following the advice of medical professionals.

"We urge all businesses and the public to listen to the public health officials when it comes to social distancing. We believe we should return to work as soon as we safely and responsibly can," said Neil Bradley, U.S. Chamber of Commerce's chief policy officer, in an email statement.

The National Retail Federation's David French described the situation as "highly fluid" and of undetermined length. They are encouraging retailers to follow the CDC's and other health experts' guidance.

"The challenge really is going to be whether restaurants can even open at this point if we don’t have a public that wants to go out," said the group's Sean Kennedy.

Krautstrunk, of Chattanooga, expected 2020 to be the year the 5-year-old brewery she founded with her husband would become profitable.

Hutton & Smith Brewing Co drew orders from Alabama, Georgia and Tennessee. But coronavirus struck a "death blow" to the company, Krautstrunk said, forcing her to shutter the taproom, lay off five employees and cut pay for the remaining 17, as orders cratered.

When asked whether she would reopen if Trump issues guidance suggesting they open by Easter, Krautstrunk said the decision would not be easy.

"Personally, I’m more concerned about the economy than my health at this point. But I’m not at risk for dying. I’m definitely concerned about my mother. And I don’t want to just recklessly try and open a business and see something terrible happen to her if this disease gets out of control," she said.

© Reuters. U.S. President Trump leads daily coronavirus briefing at the White House in Washington

Latest comments

I never used to read these "insightful" Reuters news pieces. but now that I'm social distancing and self isolating I feel I must read it to its entirety. Im so bored of protecting myself from the rest of society that doesn't have the courtesy to stay home sick. If I wanted to live in an area where I knew my neighbors would cough on my face and not wash their hands after using the restroom, I would have moved to Northern Italy.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.