US will loan $50 bn to small biz, defer taxes to fight coronavirus: Trump

The moves are designed to keep markets liquid and businesses and consumers spending

The United States will give individuals, and small and mid-sized businesses a three-month tax holiday to try to fight the economic impact of the novel coronavirus, President Donald Trump said Wednesday night.

It will also give affected companies $50 billion more in low-interest loans, he said.

The moves, designed to keep markets liquid and businesses and consumers spending, were overshadowed by Trump's announcement that the US would suspend travel from Europe for 30 days, and confusion over whether he had said cargo would be banned as well.

Trump said he would instruct the Small Business Administration (SBA), a government agency, "to exercise available