Watched the broadcast live, yes it includes cargo shipments. Something tells me the markets are going to react badly to that one

Including cargo doesn't make much sense to me. Did they include a justification for this?

In contrast, the CDC's take is that "in general, because of poor survivability of these coronaviruses on surfaces, there is likely very low risk of spread from products or packaging that are shipped over a period of days or weeks at ambient temperatures." -- https://www.cdc.gov/coronavirus/2019-ncov/faq.html

Broadcast didn't give any rationale, maybe they're concerned about the ship crews being carriers?

What cargo it does and doesn't cover isn't really clear from the announcement. What Trump says often doesn't completely match what the policy turns out to be. When agencies release the actual rules we will know more. I wouldn't be surprised if cargo only meant air cargo.

They walked back the cargo restrictions: https://twitter.com/AnaSwanson/status/1237921160500830208

Forget markets: we make drugs here they need there and vice versa.

Ports are basically already at a standstill.

I personally feel this policy will get altered as the markets tank further.

yea I'm guessing the market will be all red again tomorrow.

Safe bet, it feel almost 3.75% after hours right after the announcement.

Futures are already way down. I am almost debating staying home tomorrow just to trade. But as other posters pointed out, he seems to have mispoken.

Honestly given how long a cargo ship takes from the EU to the USA and given that the crew of ships has basically no contact with the cargo crates this makes no sense at all...

The only think I can come up with is that this will allow Trump to show how bad it is that the USA is so much international dependent for certain goods and use that then to push through regulations to enforce more local production. But if it's really that it's quite crazy.

A normal travel ban on the other side will slow/reduce/eliminate cross infection between the EU and the USA which can be helpful to slow the spread. But then from all what I can tell it might be at a point where the slowing of the spread caused by EU/USA cross infection doesn't matter due to many more local sources of infection... Well we will see. At least during the ban he can't really put the blame of any increase onto the EU anymore as travel was cut.

S&P 500 Futures are already down 3%

Looks like they backtracked on that one https://twitter.com/realDonaldTrump/status/12379246581854699...

This isn't just about COVID-19. This is economic warfare.

You mean economic suicide?

Yes, it's strange that a lot of articles don't seem to be mentioning that. Here's the relevant section of the address: https://youtu.be/pdO2HEtv92c?t=105

> And these prohibitions will not only apply to the tremendous amount of trade and cargo, but various other things as we get approval. Anything coming from Europe to the United States is what we are discussing.

That seems to be the news.

I suspect that Monday will shortly be the second largest drop in absolute terms after tomorrow. We might even see tomorrow crack the top 10 in percentage terms.

Trump said "these restrictions will not only apply to the tremendous amounts of cargo..."

but DHS is now clarifying that it doesn't apply to cargo, and the order itself doesn't mention cargo[1].

So who knows?

[1] https://www.whitehouse.gov/presidential-actions/proclamation...

It's pretty clear that Trump misread his statement. In more ways than just that one.

Canada will go $$$!

yes just heard that on CNN