Speaking at the G-20 Summit in Riyadh, Secretary of the Treasury Steven Mnuchin stated “I think we are going to need another three or four weeks to see how the virus reacts until we really have good statistical data”. 

The most recent reports from China suggest that the incidence rate is declining, attributed in part to quarantines and other restrictions.  The report indicated that 80% of patients diagnosed with the condition demonstrated only mild upper respiratory signs.  Mortality, depending on the denominator selected, is at 2.3% with the elderly and those with predisposing conditions most susceptible.  Epidemiologists in Western nations consider that the fatality rate will evidently be less than 1% given the large number of non-diagnosed ands possibly asymptomatic cases. Their number will only be determined after serologic surveys in the affected areas.

Commenting on the response by China, Mnuchin stated “I think the Chinese government reacted much quicker than they had in previous situations.” He added “there is no question that China is now controlling the virus but Phase-Two of the trade deal will definitely slow down a little bit”.