President Trump announced a 30-day travel ban from European countries Wednesday night to arrest the spread of the coronavirus, a significant escalation in the administration's efforts to address the pandemic.

“The European Union failed to take the same precautions and restrict travel from China and other hot spots,” Trump said. “As a result, a large number of new clusters in the United States were seeded by travelers from Europe.”

The restrictions, which will go into effect Friday at midnight, will not apply to the United Kingdom, and U.S. citizens and residents will not be denied entry.

"These prohibitions will not only apply to the tremendous amount of trade and cargo, but various other things as we get approval," Trump said in his televised address. Later, he clarified that the restrictions would not apply to trade.



Hoping to get the payroll tax cut approved by both Republicans and Democrats, and please remember, very important for all countries & businesses to know that trade will in no way be affected by the 30-day restriction on travel from Europe. The restriction stops people not goods. — Donald J. Trump (@realDonaldTrump) March 12, 2020

Trump announced several other measures to bolster the economy. He said that the Small Business Administration will provide low-interest loans to businesses in areas hit by the pandemic to help overcome temporary economic disruptions, and asked Congress to increase funding to the program by $50 billion.



In support of @POTUS’s request,tomorrow morning I will introduce legislation providing authorization for an increase in the @SBAgov 7(a) loan program.



@SmallBizCmte will also hold a hearing at 10:30am on this topic. — Marco Rubio (@marcorubio) March 12, 2020

He said that the Treasury Department will defer tax payments without penalties for businesses and individuals who have been affected, saying that the measure would effectively give businesses $200 billion in liquidity. Lastly, Trump called on Congress to pass a payroll tax cut.

"This is not a financial crisis, just a temporary moment in time," Trump said.

Investors reacted negatively to Trump's remarks. Stock market futures dropped steeply after he finished, with the Dow Jones Industrial Average down nearly 4%.

While Trump's proposals and rhetoric marked a new level of aggressiveness in managing the pandemic, the administration has not floated the kinds of drastic measures that have been seen in Italy, which has ordered the closing of most businesses, or France, which has banned large gatherings.

Cases have spread rapidly throughout Europe since the virus was first identified in late 2019. For instance, the number of cases in Italy jumped about 50% in just a day. The U.S. has seen a similarly rapid spread. The first cases of community transmission in the U.S. were confirmed in late February. Now, over 1,200 Americans have been diagnosed with the virus, and at least 36 have died.

The measures outlined Wednesday night would add to a $8.3 billion emergency spending package signed last week, meant to aid the medical response to the pandemic.

Meanwhile, House Democrats are working to fast-track a stimulus package. The package would provide paid sick leave, expand unemployment insurance, and ensure lunch is provided for low-income students if public schools close by expanding food stamps.

The measure would also provide for free coronavirus testing, protective gear for healthcare workers, and mobilization of federal resources to expand the capacity to treat sick patients.

The plan could pass as soon as this week, but the situation is developing rapidly. The Republican-led Senate has not weighed in on the package.

While the federal government so far has not pursued major lockdowns on the scale seen in other countries hit harder by the pandemic, states and the private sector have canceled many events and mass gatherings to decrease contagion. The St. Patrick’s Day parades in both New York City and Washington, D.C., have been canceled, as well as several presidential candidates’ campaign events .

Many colleges and universities have sent students home and initiated online schooling programs. The NCAA announced Wednesday that the basketball tournaments would be played without spectators, and the NBA said Wednesday night that it would suspend all games after Utah Jazz center Rudy Gobert tested positive for the coronavirus.

So far, global cases of the coronavirus have surpassed 126,000, with a death toll exceeding 4,600.

