The Situation as it Stands

With more than 957,000 registered cases in the U.S. it is the country with the highest number of COVID-19 cases in the world. 26 million Americans have filed for unemployment benefits the past five weeks indicating how serious the situation is evolving.

Friday April 24, a $484 billion relief package was adopted by the House of Representatives in the U.S. to support, among other things, small businesses critically affected by the corona crisis. This is the fourth package, totaling the collective support to U.S. companies to $3,000 billion. In addition, the U.S. Federal Reserve has set up loan programs to provide $2,300 billion in economic support to companies.

The relief and support plans are important steps in attempt to stabilize the situation and rescuing a distressed business community, stated by Louis Funder, U.S. General Manager for the Confederation of Danish Industry:

“Several companies applied for the original package. Unfortunately, not everyone was able to get support before the money was spent. Now, companies are being given a new opportunity to help cover ongoing expenses, enabling them to retain their employees in a difficult time”

Are You Also Affected?

For further information about the situation in the U.S. please see the latest report from the Confederation of Danish Industry. The report provides a selection of information on essential developments related to the Corona crisis in the U.S. As for now, reports are also available on the situation in China, United Kingdom, Germany, France and Sweden.

For comments or questions please contact Louis Funder, U.S. General Manager at lfk@di.dk