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March 25, 2020updated 26 Mar 2020 12:15pm

US White House and Senate reach deal on $2 trillion stimulus package

By Duncan West

In the US, the White House and the Senate have agreed an economic stimulus package worth more than $1.8 trillion to combat the economic fallout of Covid-19.

Full details of the deal will not be published until later on Wednesday. However, it is expected to cprovide support to workers laid off due the virus and increase unemployment assistance.

The package also includes money to bail out industries that have been affected by the coronavirus crisis and provide emergency loans to small firms.

US markets had risen on Tuesday in anticipation of the deal. Japan’s Nikkei 225 index closed 8% higher on Wednesday and the FTSE 100 index had risen more than 1%.

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