At the beginning of the crisis, he was interviewed by "Today Today" Huang Changshi, a Chinese biotech investor in Israel, jokingly saying that "President Trump worked vigorously to stop China-US trade and then the Corona came and did it much faster."
Well, President Trump has also worked diligently to lower world oil prices and then the Corona came and made it much faster than it - far beyond what he intended. The steep declines in the U.S. worry Trump as well as the U.S. economy in general.
Lowering oil is good, especially when boycotting Iran and do not want one of the effects of this boycott to be raising world energy prices. But even the sharp decline is really undesirable.
Loss-producing oil is a precursor to the collapse of companies that accumulate huge deficits daily. If this causes a significant collapse of companies, it will lead to a strategic hit in the US, which is currently the world's largest oil producer and fourth largest exporter in the world.
That's one of the reasons Trump wants to get the economy back on track, despite the threat of the Corona. The following weeks will be critical to considering this matter. And in the meantime, May's futures are still very low, but June's contracts are higher, so investors, as usual, see farther from the current crisis.
For further opinions of Eran Bar-Tal