Erica Werner

Congressional leaders and the White House are converging on the need for a new assistance package to try to contain the coronavirus pandemic’s economic devastation, fearful that a $2 trillion bailout law enacted in March will have only a limited effect. Democratic Reps are eyeing a package of spending increases that would “easily” cost more than $1 trillion, House Speaker Nancy Pelosi (D-CA) said.

Bowing to White House demands, Republican Senators have backed off their attempt to reimpose US sanctions on the Chinese telecommunications giant ZTE. The retreat means ZTE, a company found guilty of selling US goods to Iran in violation of sanctions, will duck Commerce Department penalties that bar US companies from doing business with it. Chinese officials said those penalties would effectively put ZTE out of business.