The Evening: Small Business Loan Program, Immigration Ban, New Barbarians and More

April 21, 2020

Senate Passes Small Business Loan Program

The Senate passed a $484 billion deal today to replenish a small business loan program that’s been overrun by demand and also devote more money for hospitals and coronavirus testing. President Trump said he would sign it into law, as the Washington Post reports.

Immigration Ban

President Trump is expected this evening to announce a temporary pause in the issuance of most green cards, a move that would close the United States off to tens of thousands of people seeking to join family members or accept employment during the crisis, as the NYT reports.

And, as the Times reports, the president said late Monday evening that he intended to close the United States to people trying to immigrate into the country.

Oil Price Crash Deepens

A fresh plunge in oil prices dragged down investments from stocks to currencies today, stinging investors anew and adding even more urgency to the crisis sweeping the energy industry, as the WSJ reports.

On the Horizon

In Can I Stay or Can I Go Now? Longer-term Impacts of Covid-19 on Global Migration, CSIS's Erol Yayboke explores how a decrease in remittances might impact global economic growth and inequality.

CSIS’s “On the Horizon” series offers insights into the more fundamental changes we might anticipate for our future social and economic world as a consequence of the Covid-19 pandemic.

CSIS Executive Education

We invite you to apply to Unpacking the Defense Enterprise, a a three-day live, online course exploring defense strategy, budgetary and technical issues, and future challenges and opportunities in the U.S. defense enterprise.

Video Shorts

Check out CSIS’s new series of video shorts: “Testify,” "What's Happening," "Preview," and “High Resolution.” And don’t forget to subscribe to the CSIS YouTube Channel!

In That Number

6.7 Billion

Global crude oil storage capacity is believed to be up to 6.7 billion barrels, including commercial and strategic storage. However, for technical reasons only about 80 percent of this nameplate capacity is actually usable.

Source: CSIS, “The Oil Inventory Challenge”

Critical Quote

“In light of the attack from the Invisible Enemy, as well as the need to protect the jobs of our GREAT American Citizens I will be signing an Executive Order to temporarily suspend immigration into the United States!”

— President Donald Trump

iDeas Lab

FARC dissidents and the ELN have established a strong presence throughout Venezuela and are using revenue from activities such as illegal mining to strengthen their power.

The Andreas C. Dracopoulos iDeas Lab at CSIS enhances our research with the latest in cutting-edge web technologies, design, and video.

Optics

(Photo credit: Nicholas Kamm/AFP via Getty Images). Nurses protest against the lack of personal protection equipment.

Recommended Reading

“The Strategic Case for U.S. Climate Leadership,” by James A. Baker III, George P. Shultz, and Ted Halstead for Foreign Affairs.

Online Events

Tomorrow, at 9:00 a.m., CSIS will host a virtual conversation with Ahmed Saeed, vice president at the Asian Development Bank, to discuss the Bank's role in helping member states respond to the economic fallout from Covid-19.

Also, at 9:00 a.m., the Wilson Center will host an expert panel to discuss the role of global cooperation in combating environmental challenges.

Later, at 2:00 p.m., the American Enterprise Institute will host a panel discussion centered on the impacts of Covid-19 on the world economy.

Video

CSIS’s Defense-Industrial Initiative Group today hosted the second event in an online discussion series on the role of synthetic biology in biosecurity and biodefense. Watch the event here.

Podcasts

In the latest episode, Steve Morrison and I speak with Peter Sands, executive director of the Global Fund to Fight AIDS, Tuberculosis, and Malaria. We discussed the threat the pandemic poses to historical gains in development and global health as well role of the Global Fund in the Covid-19 response.

Listen on Apple Podcasts & Spotify.

Smiles

I can tell from your emails about the Stones that you all need some more Keith and Ronnie in your lives . . . I know I do. So let’s get into the New Barbarians , Keith and Ronnie’s side project that launched in spring of 1979.