U.S. Restart Plans, China Shrinks, Weidmann’s Reminder: Eco Day

(Bloomberg) -- Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • As President Donald Trump looks to start reopening the U.S. economy in May, the question facing companies with supply chains across North America is: What if Mexico and Canada don’t have the same timetable in mind?
  • Tens of millions of Americans are agonizing over how to spend $1,200 one-time relief payments that won’t be enough
  • The U.S. is expected to account for 31% of this year’s decline in worldwide gross domestic product
  • Meanwhile, the coronavirus pushed China’s economy into its first contraction in decades in the first quarter
  • Some 15 years after hitting foreign investors with one of the harshest sovereign bond renegotiations in modern history, Argentina unveiled a proposal for a new debt restructuring that appears to offer only slightly more generous terms
  • The Canadian government has delivered C$16 billion ($11.6 billion) in income support to workers over the past month, in what represents the first major installment of Prime Minister Justin Trudeau’s stimulus package
  • Echoing debt sagas of old, the European Central Bank is back on the crisis front line
  • Bundesbank President Jens Weidmann wants to remind euro-area governments that they will need to tighten their budgets after providing “significant, impressive” spending in the fight against the coronavirus

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