GM Chairman and CEO Mary Barra visited one of the company’s plants in Warren, Michigan on April 1, 2020, which will produce Class 1 masks.
The CEOs of the largest companies in the United States expect that the impact of coronaviruses on companies will continue until at least the end of 21
The Corporate Trade Organization said in its second quarter report on the Business Roundtable on Monday that its survey of its members-which includes General Motors, Apple and Johnson & Johnson and other major companies-indicates that most people are most looking forward to the recovery of business conditions by the end of 2021.
But there are still major doubts: 27% of people expect the recovery to continue until next year.
The considerable proportion-and the differences between the most powerful executives in the United States-represent the uncertainty of the economic climate as the United States struggles with health disasters with few modern precedents.
After fears and lock-ups caused economic turmoil this spring, people had hoped that the United States would recover. But the number of coronavirus cases is increasing, and states like Texas have to delay reopening plans. On Friday alone, another 45,255 cases were reported, and the country’s 7-day average increased by more than 41% from the previous week.
After being blocked by the COVID-19 outbreak in New York City, USA on June 17, 2020, during the first phase of reopening, a staff member checked the customer’s temperature at the entrance of the Apple Store.
Brendan McDermid | Reuters
The report of the Business Roundtable mentioned the rising infection rate, saying that the new cases “recommend the need for wider adoption of safety measures and require public officials to check their reopening plans to ensure the widespread use of masks, continue to limit the scale of collection and take various measures .To ensure the safety of vulnerable groups.”
In some cases, the CEO took action before the local government, and companies such as Apple closed stores in hotspot states before being authorized to take action.
Doug McMillan, CEO of Wal-Mart and chairman of the Business Roundtable, said: “Our fight with COVID-19 is not over, and our top priority remains the health and safety of our employees, customers and the communities we serve.” “We Lawmakers at the federal, state and local levels are urged to coordinate as much as possible to control the further spread of this virus.”
Worried about the COVID-19 pandemic in New Jersey, USA, on April 18, 2020, Americans queued to buy goods at supermarkets such as Costco Wholesale and Walmart.
Tayfun Coskun | Anadolu Agency | Getty Images
The CEO’s Economic Outlook Survey report for the Business Roundtable-the composite index of CEOs’ capital expenditures and hiring plans over the next six months-fell to 34.3, the lowest level since the second quarter of 2009, as the United States is working The financial collapse of the year before the recovery. The index reached a record low of negative 5 in the first quarter of 2009.
The second quarter survey was conducted from June 1 to 22.
The United States officially entered the corona virus recession in February this year.
At the time of the BRT report, the US government was still formulating economic responses to this pandemic. Lawmakers have not yet followed up on the main legislation that signed the $2 trillion CARES bill that became law at the end of March. Although the informal talks have already begun, it is expected to begin more seriously in mid-July.
On Monday, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer, the top Democrat in Congress, urged Republican-led Senate leaders to act quickly on legislation. They warned that “the United States has seen a sharp increase in the number of cases and deaths due to the COVID-19 pandemic,” and “our economy is facing one of the biggest challenges since the Great Depression.”
After meeting with US President Donald Trump at the White House, US House Speaker Nancy Pelosi (L) and Senate Democratic Leader Chuck Schumer (R) held a press conference on Capitol Hill in Washington, DC. May 22, 2019.
Saul Loeb | AFP | Getty Images
Lobbyists told CNBC that if the rate of coronavirus infections continues to rise and the market shows signs of fear, they expect Congress will need to shift its focus from initiatives aimed at a broader recovery effort to fill economic loopholes, just as it did for CARES Like that.
The Business Roundtable is one of the company’s lobbying groups, and its priorities have been clarified in the next legislative plan. In a letter to the leaders of the House of Representatives and the Senate in May, the organization urged the provision of a “rework bonus” that should match the increased unemployment benefits of $600 granted by the CARES Act, which some lawmakers said encouraged Unemployed workers return to work. The panel is one of those who urged liability protection to reduce “costly non-contributory lawsuits.”
Joshua Bolten, Chairman and CEO of the Business Roundtable, said in a statement: “We appreciate the actions that the government and Congress have taken so far to help American workers, small businesses and communities, but there are still Much work needs to be done.”
“We encourage policy makers to work together to take other measures to help end this public health crisis as soon as possible, and encourage companies to take economic recovery measures during business recovery. CEOs are still committed to promoting compliance with COVID-19 security measures So that the states can continue to live safely. Open for business.”