Washington,
US
President Donald Trump on Thursday threatened China with fresh tariffs
as he stepped up his attacks on Beijing over the coronavirus crisis,
saying he had seen evidence linking a Wuhan lab to the contagion.
The
diatribe from the Republican incumbent came as data showed the United
States shed more than 30 million jobs in six weeks, as lockdown measures
began to bite across the nation.
The
gloom in the world's largest economy found its parallel across the
Atlantic, where experts warned of an unprecedented financial catastrophe
in Europe.
The outbreak of the novel
coronavirus has so far killed more than 230,000 people and forced more
than half of humanity to live under some kind of lockdown, which has
crippled economies.
The virus is
believed to have originated late last year in a market in the Chinese
city of Wuhan that sold wild animals for human consumption, but
speculation has swirled about a top-secret lab in the ground-zero city.
Asked if he had seen anything giving him a
high degree of confidence that the Wuhan Institute of Virology was the
source of the outbreak, Trump replied, "Yes, I have."
Pressed by reporters at the White House for details on what made him so confident, Trump replied: "I cannot tell you that."
Trump is increasingly making Beijing's handling of the outbreak a major issue for his November re-election campaign.
When
asked about reports that he could cancel US debt obligations to China,
Trump said he could "do it differently" and act in "probably a little
bit more of a forthright manner."
"I could do the same thing but even for more money, just putting on tariffs," he said.
Despite
a truce in the long-running trade war between Washington and Beijing
reached in January, tariffs are already in place on two-thirds of trade
between the economic powers.
European
and US markets finished the day in negative territory, as a spate of
figures confirmed fears about how the COVID-19 crisis is pulverizing
global growth.
The latest jobless
claims by another 3.84 million Americans translate into a jarring
conclusion -- roughly nine percent of the US population has filed for
unemployment benefits in six weeks.
In
the midwestern US state of Michigan, protesters -- some of them armed
-- stormed the state capitol building, demanding that the Democratic
governor remove strict lockdown rules, which they say hurt the economy
and represent governmental overreach.
The depressing US jobs data compounded the tough message from European Central Bank Christine Lagarde.
"The euro area is facing an economic contraction of a magnitude and speed that are unprecedented in peacetime," she warned.
ECB economists expect output in the 19-nation currency club to shrink by "five to 12 percent" this year, she added.
Eurostat figures showed the eurozone economy was estimated to have shrunk by 3.8 percent in the first quarter.
Germany,
Europe's biggest economy, "will experience the worst recession in the
history of the federal republic" -- founded in 1949 -- Economy Minister
Peter Altmaier warned, predicting it would shrink by a record 6.3
percent.
The coronavirus virus has
infected at least 3.2 million people so far, with Russia's Prime
Minister Mikhail Mishustin becoming the latest high-profile figure to
test positive as his country's caseload surged past 100,000.
But there was some reason for cheer.
American
scientists reported positive tests for an improved treatment, and with
deaths and infections starting to drop in some hotspots, countries
looked at the next phase in their plans to lift crippling lockdown
measures.
On Thursday, Germany
accelerated plans to start lifting its anti-virus lockdown, preparing to
ease curbs on public life and reopen religious institutions, museums
and zoos -- having restarted shopping last week.
A decision on when to reopen schools is to come next week.
"It remains absolutely important that we stay disciplined," said Chancellor Angela Merkel.
In
South Korea, where COVID-19 was detected in mid-February, no new
infections were reported for the first time, suggesting its aggressive
test-and-trace strategy is working.
South
Korea's death toll is around 250 -- vastly lower than that of Italy,
Britain, Spain and France, which have each recorded at least 24,000
fatalities.
The United States tops
the table with nearly 63,000 deaths. It recorded more than 2,000 deaths
for the third day running Thursday.
Italy,
once the world center of the outbreak, said it was hoping to reopen two
major airports next week, but -- like Spain -- plans a cautious
reopening.
"We cannot allow the efforts made to be in vain because of rashness at this delicate stage," Prime Minister Giuseppe Conte said.
And British Prime Minister Boris Johnson, who himself battled COVID-19, said the country was "past the peak" of its outbreak.
Meanwhile,
in the first evidence of successful treatment, a US clinical trial of
the drug remdesivir showed that patients recovered about 30 percent
faster than those on a placebo.
"The
data shows that remdesivir has a clear-cut, significant, positive effect
in diminishing the time to recovery," said Anthony Fauci, the top
epidemiologist in the United States.
But it is a treatment, not the much-sought-after vaccine that might allow a full return to normal life.
More
than 130 virus therapies are currently being investigated, the
International Federation of Pharmaceutical Manufacturers and
Associations said Thursday.
Most are still in the early stages of testing, but more than 25 clinical trials have begun, IFPMA director Thomas Cueni said.
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