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A Coronavirus Recession? A New Survey of Top US & European Economists (IGM Forum, 6 min read) Leading US and European economists now expect a severe recession due to COVID-19 although uncertainty remains over the expected length of the downturn. More than two-thirds of European experts think the Eurozone lacks the necessary tools to response, particularly given the absence of co-ordinated fiscal policy.
COVID-19: Europe Needs a Catastrophe Relief Plan (VoxEU, 12 min read) Europe should immediately develop a catastrophe relief fund to cover both needed healthcare spending and indirect costs from school closures and other containment measures. All temporary spending related to the crisis should also be deducted from SGP budget measures.
Trump’s Trade Policy is Hampering the US Fight Against COVID-19 (Peterson Institute for International Economics, 8 min read) US tariffs on medical imports from China could mean delays and higher costs for needed equipment. Trump has in the past week temporarily reduced some of the tariffs but this does not go far enough with many medical products still affected.