By ANDREW TAYLOR, LISA MASCARO and JONATHAN LEMIRE

WASHINGTON (AP) — The White House and Senate leaders of both major political parties announced agreement early Wednesday on an unprecedented $2 trillion emergency bill to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic.

The urgently needed pandemic response measure is the largest economic rescue measure in history and is intended as a weekslong or monthslong patch for an economy spiraling into recession and a nation facing a potentially ghastly toll.

Top White House aide Eric Ueland announced the agreement in a Capitol hallway shortly after midnight, capping days of often intense haggling and mounting pressure. The deal still needs to be finalized in detailed legislative language.

“Ladies and gentlemen, we are done,” Ueland said. “We have a deal.”

The economic rescue package would give direct payments to most Americans, expand unemployment benefits and provide a $367 billion program for small businesses to keep making payroll while workers are forced to stay home.

One of the last issues to close concerned $500 billion for guaranteed, subsidized loans to larger industries, including a fight over how generous to be with the airlines. Hospitals would get significant help as well.

“After days of intense discussions, the Senate has reached a bipartisan agreement on a historic relief package for this pandemic,” said Majority Leader Mitch McConnell, R-Ky., a key negotiator. “It will rush new resources onto the front lines of our nation’s health care fight. And it will inject trillions of dollars of cash into the economy as fast as possible to help Americans workers, families, small businesses and industries make it through this disruption and emerge on the other side ready to soar.”

At the White House on Tuesday, even as the public health crisis deepened, President Donald Trump expressed eagerness to nudge many people back to work in the coming weeks and held out a prospect, based more on hope than science, that the country could be returning to normal in less than a month.

“We have to go back to work, much sooner than people thought,” Trump told a Fox News town hall. He said he’d like to have the country “opened up and just raring to go” by Easter, April 12. But in a White House briefing later, Trump said that “our decision will be based on hard facts and data.”

Medical professionals say social distancing needs to be stepped up, not relaxed, to slow the spread of infections. At the White House briefing, the public health authorities said it was particularly important for people in the hard-hit New York City metropolitan area to quarantine themselves for 14 days and for those who have recently left the city to do the same.

Dr. Anthony Fauci, the government’s top infectious disease expert, said pointedly at the briefing, “No one is going to want to tone down anything when you see what is going on in a place like New York City.”

On Capitol Hill, five days of arduous talks produced the bill, creating tensions among Congress’ top leaders, who each took care to tend to party politics as they maneuvered and battled over crafting the legislation. But failure was never an option, which permitted both sides to mark big wins.

Even before the deal was reached, news of the likely but elusive agreement had sent the stock market rocketing on Tuesday. The rescue package would be larger than the 2008 bank bailout and 2009 recovery act combined.

The package would give one-time payments of $1,200 per adult and $500 per child directly to the public.

A huge cash infusion for hospitals expecting a flood of COVID-19 patients grew during the talks at the insistence of Sen. Chuck Schumer, the Democratic leader, while Republicans pressed for tens of billions of dollars for additional relief to be delivered through the Federal Emergency Management Agency, the lead federal disaster agency.

Democrats said the package would help replace the salaries of furloughed workers for four months, rather than the three months first proposed. Furloughed workers would get whatever amount a state usually provides for unemployment, plus a $600 per week add-on, with gig workers like Uber drivers covered for the first time.

“It ensures that all workers are protected whether they work for businesses small, medium or large, along with self-employed and workers in the gig economy,” Schumer said.

Republicans won inclusion of an “employee retention” tax credit that’s estimated to provide $50 billion to companies that retain employees on payroll and cover 50% of workers’ paychecks. Companies would also be able to defer payment of the 6.2% Social Security payroll tax.

Democrats pointed to gains for hospitals, additional oversight of the huge industry stabilization fund and money for cash-strapped states. A companion appropriations package ballooned as well, growing from a $46 billion White House proposal to more than $300 billion, which dwarfs earlier disasters — including Hurricane Katrina and Superstorm Sandy combined.

To provide transparency, the package is expected to create a new inspector general and oversight board for the corporate dollars, much as was done during the 2008 Troubled Asset Relief Program bank rescue, officials said.

Trump in recent days has sounded a note of frustration about the unprecedented modern-day effort to halt the virus’ march by essentially shutting down public activities in ways that now threaten the U.S. economy.

Even though Trump’s administration recommended Americans curtail activities for 15 days, starting just over a week ago, the Republican president said he may soon allow parts of the economy, in regions less badly hit by the virus, to begin reopening.

He continued on that theme Tuesday as he weighed a relaxation of social distancing guidelines after the 15-day period is up. His suggestion that the pandemic could ease and allow a return to normalcy in a mere few weeks is not supported by public health officials or many others in government.

On Tuesday, top defense and military leaders warned department personnel that the virus problems could extend for eight to 10 weeks or longer. Army Gen. Mark Milley, chairman of the Joint Chiefs of Staff, said during a Defense Department town hall meeting that the crisis could even extend into July.

Trump has balked at using his authority under the recently invoked Defense Protection Act to compel the private sector to manufacture needed medical supplies like masks and ventilators, even as he encourages them to spur production. “We are a country not based on nationalizing our business,” said Trump, who has repeatedly railed against socialism overseas and among Democrats.

For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia and death. The vast majority of people recover.

The virus has caused a global pandemic that has sickened more than 425,000 people and killed about 19,000 worldwide. In the United States, more than 55,000 people have been sickened and more than 800 have died.

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Associated Press writers Lolita C. Baldor, Zeke Miller, Mary Clare Jalonick, Ricardo Alonso-Zaldivar, Alan Fram and Padmananda Rama contributed to this report.

By EMILY SCHMALL and SHEIKH SAALIQ

NEW DELHI (AP) — India will begin the world’s largest lockdown on Wednesday, Prime Minister Narendra Modi announced in a TV address, warning citizens to stay inside or risk inviting the pandemic into their homes, and pledging $2 billion to bolster the country’s beleaguered health care system.

“To save India and every Indian, there will be a total ban on venturing out,” Modi said Tuesday night, acknowledging that the 21-day lockdown would be a major blow to the economy, but insisting that the alternative could set the country back 21 years.

The move puts nearly one-fifth of the world’s population under lockdown.

The announcement set off panic in many neighborhoods as people rushed to markets to stock up on supplies. At many places, police tried to disperse crowds outside stores.

Indian health officials have reported 469 active cases of COVID-19, the disease caused by the virus, and 10 deaths. Officials have repeatedly insisted there is no evidence yet of localized spread but have conducted relatively scant testing for the disease. In a country where tens of millions live in dense urban areas with irregular access to clean water, experts have said local spreading is inevitable.

For weeks, while the coronavirus wracked neighboring China and other parts of Asia, India’s official infection toll stood at just three, all students in the Chinese epicenter, Wuhan, who were treated in their home state of Kerala and recovered from the disease.

But since the World Health Organization declared the coronavirus a global pandemic, triggering India’s government to invoke a British Raj-era epidemic act giving it sweeping powers to contain the disease, the cases have been growing rapidly and, according to Modi, have the potential to “spread like wildfire.”

In recent days, India had gradually expanded stay-at-home orders, banned international and domestic flights and suspended passenger service on its extensive rail system until March 31.

Modi called Tuesday’s order a “total lockdown” and did not address whether any service providers would be exempt, but said that “all steps have been taken by central and state government to ensure supply of essential items.”

The ministry of home affairs said essential services including grocery stores, banks, ATMs and gas stations will remain open. It said no more than 20 people will be permitted to attend funerals.

It was not clear what the lockdown would mean for about 300 million Indians who according to official data live below the poverty line.

Indian finance minister Nirmala Sitharaman said a comprehensive relief package would be announced soon.

The lockdown “has essentially drawn a ‘laxman rekha’ on our doors,” Modi said, referring to a line drawn by the hero of the Hindu epic “Ramayana” to protect his wife’s dwelling place. “You must remember that you will invite a grave pandemic like coronavirus to your homes if you step out.”

Indian virologist Dr. T. Jacob John said before the wholesale lockdown was announced on Tuesday that India was being forced to take extreme containment measures after failing to mitigate the problem earlier on, when the caseload was light.

“There would have been time because the wolf was not yet at the door. Now today the wolf’s inside the door and India’s supposed to calmly respond with a wolf in the corner,” he said.

The Associated Press

The rapid spread of the coronavirus since it was first reported in China has dealt an unprecedented shock to the global economy.

Following are business developments Monday related to the outbreak as governments attempt to stabilize their economies, companies struggle to cope and millions of people face job losses and disruptions in supplies of goods and in services.

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AIRLINES: Airlines can’t seem to cut capacity as fast as air travel is fading as businesses and vacationers pull back on plans. Industry analysts are slashing their expectations even faster, with cuts of 40% or more the norm.

Air Canada is laying off more than 5,000 flight attendants as the country’s largest airline cuts routes amid plunging demand. The Montreal carrier is laying off about 3,600 employees, plus 1,549 flight attendants at its low-cost subsidiary Rouge, according to Wesley Lesosky, head of the Air Canada component of the Canadian Union of Public Employees. The layoffs will take effect by April and affect roughly 60% of flight attendants. Air Canada says it will suspend most of its international and U.S. flights by March 31. The carrier says employees will be returned to active duty status once flights resume.

GE aviation will cut about 10% of its U.S. workforce. David Joyce, vice chairman of GE and CEO of GE Aviation, will give up half of his salary starting April 1. The aviation arm of General Electric also said that there will be a temporary lack of work impacting approximately 50% of its U.S. maintenance, repair and overhaul employees for 90 days. GE Aviation had already announced a hiring freeze, the cancellation of a salaried merit increase, a dramatic reduction of all non-essential spending, and a significant decrease in its contingent workforce.

Canadian airline and travel company Transat AT Inc. has temporarily laid off about 70% of its workforce in Canada, or about 3,600 people. The decision comes as non-essential travel around the world comes to a standstill as governments close borders in an effort to slow the pandemic. The layoffs include all flight crew personnel.

The United Arab Emirates is suspending passenger transits through Dubai, the world’s busiest international airport, for two weeks to help stop the spread of the coronavirus. Suspending transit through Dubai, which connects Europe with Asia and Australia, will affect travelers around the world.

Low-cost airline Eastar Jet has become the first South Korean carrier to shut down all flights as demand plunges. The company says it will temporarily suspend its domestic flights from Tuesday to April 25. Other budget South Korean carriers including Air Seoul, Air Busan and T’Way Air operate only domestic flights after suspending their international services.

REPURPOSED: Yves Saint Laurent and Balenciaga are the latest luxury fashion labels ramping up the manufacturing of surgical masks to help the fight against COVID-19.

The Kering Group, which owns the labels, says French workshops that usually make clothes for Yves Saint Laurent and Balenciaga will switch over to manufacturing masks. It says production will begin “as soon as the manufacturing process and materials have been approved by the relevant authorities.” It did not say how many masks the workshops will be able to make. Kering said it will also buy and import 3 million surgical masks from China for donation to the French health service.

The world’s largest luxury group – Paris-based LVMH – has also said it has reached a deal with a Chinese industrial supplier to deliver 10 million masks to the French population.

CORPORATE FIREWALLS: Airbus is canceling a planned dividend payment and lining up 15 billion euros ($16 billion) in new credit to give the European aircraft giant more cash to weather the crisis. Airbus The plane maker is withdrawing the proposed 2019 dividend payment of 1.8 euros ($1.9) per share will save the company 1.4 billion euros ($1.5 billion). Airbus is also making pension savings and says it has significant liquidity to cope with the crisis. It had shut several plants last week to adapt them to safer health conditions.

VF Corp. says it will draw down $1 billion from its revolving credit facility. The company is also adjusted fiscal 2020 forecast due to COVID-19. VF expects to have approximately $1.5 billion of cash on hand and about $1 billion remaining under facility.

Royal Dutch Shell will reduce its operating costs by between $3 billion to $4 billion for the next 12 months to adapt to the virus outbreak crisis and plunging oil prices. The company is also reducing capital expenditure to a maximum of $20 billion, down from its previous expectation of $25 billion.

HEAVY INDUSTRY: Millions of people are working at home. However, heavy industrial sectors have come to a standstill because the risk of infection, if operations continue, would be unavoidable.

A big auto industry trade group is telling Congress that 95% of U.S. auto assembly plants have been forced to close due to the coronavirus outbreak.

The Alliance for Automotive Innovation says in a letter obtained by The Associated Press that 42 of 44 U.S. assembly plants were closed as of Friday. The letter says 87% of the assembly plants in North America have been closed, including all seven in Canada and 60 of 69 in Mexico. It says analysts expect March sales to fall by up to 40% from 2019 figures. The association is asking Congress for loans and loan guarantees for affected companies. It also is asking that businesses with more than 500 workers that provide paid leave for employees get a tax deduction or credit. Most U.S. auto assembly workers are being paid through the closure, which in most cases is scheduled to last into early April. The industry also wants Congress to delay 2020 quarterly federal tax payments, start a temporary payroll tax holiday, extend expensing for machinery, and delay the June 1 effective date of the USMCA trade pact, which replaces the North American Free Trade Agreement.

Forecasting as much as a 60% decline in reservations for April due to coronavirus travel restrictions, rental car giant Avis is cutting staff, reducing its fleet and pausing capital spending, among other actions. The company says it will also evaluate compensation expenses for senior employees, including executive leadership, as it looks to save $400 million on an annualized basis. The Parsippany, N.J.-based Avis Budget Group said it has accessed $1.1 billion in cash from equity in its vehicle fleet and has an estimated $750 million in revolving credit, giving it the liquidity to operate “through the end of 2020 and beyond.”

Winnebago Industries halted production to protect workers from coronavirus exposure and to adjust production as demand for the company’s products is rapidly changing. Winnebago, which employees about 5,000 people, makes motor homes, travel trailers and boats under the Winnebago, Grand Design, Newmar and Chris-Craft brands. The Forest City, Iowa-based company has production facilities in Iowa, Indiana, Oregon, Minnesota and Florida. The company said Monday that production will cease until at least April 12. Benefits and base pay will continue for the first two weeks.

Ford Motor Co. has suspended vehicle and engine production at its International Markets Group manufacturing sites located in India, Vietnam, South Africa and Thailand. The suspensions started Saturday and will continue for several weeks.

REAL ESTATE: To conserve capital, Zillow Group postponed home buying in the 24 markets where it participates in such activity. Zillow stopped open houses for homes in all markets last week.

U.S. home sales jumped 6.5% in February, their highest level in 13 years. But that was for contracts that were signed in December and January, with closings in February. The first report of a coronavirus infection in the U.S. occurred on Jan. 21 and economist are expecting a vast slowdown in the next report with sellers closing their homes to potential buyers.

The commercial real estate market is at risk of collapse, cautions the founder of Colony Capital, as mortgage loans experience growing pressure. Thomas Barrack said in a blog post that liquidity has dried up as businesses get hit with a temporary cash flow deficit and a rapid decline in revenue. “The market for commercial real estate mortgage loans in the United States stands on the brink of collapse,” Barrack wrote.

SUPERMARKETS: President Emmanuel Macron urged employees to keep working in French supermarkets and some other businesses deemed essential amid a spreading shutdown imposed to fight the coronavirus.

Finance minister Bruno Le Maire has said that the whole supply chain for the food industry must be guaranteed after France shut down all restaurants, cafes, cinemas and retail shops that are deemed nonessential. Many employees are working from home. Businesses that are allowed to remain open must enforce rules about social distancing, washing hands and disinfection.

HIRING: While some businesses are being required to close during the virus outbreak, others are seeing a surge in demand for their products. Dollar General said Monday that it plans to hire up to 50,000 workers by the end of April as customers continue to head to its stores to stock up on household supplies.

Dollar General said it anticipates a majority of the new jobs will be temporary, but that some may be long term.

CVS Health also announced Monday that it is looking to fill 50,000 full-time, part-time and temporary roles across the country. Positions include store associates, prescription delivery drivers, distribution center employees and member/customer service professionals. The company is also giving employee bonuses ranging from $150 to $500 to workers required to be at its facilities.

Other companies have also announced they are hiring more employees, among them Amazon and Domino’s Pizza.

THE STORES: H&M warned Monday that it may need to permanently lay off workers as it wrestles with the financial implications of the virus. The Swedish fast fashion company said that 3,441 out of its 5,062 stores globally are temporarily closed. The closures, aimed to stop the spread of the virus, has had ”’significant negative impact on sales so far in March,” the company said.

ENERGY: The energy sector has lost almost half of its overall value in the month of March. Economic forecasts indicate a vast reduction in the amount of energy that will be needed as national economies are broadsided.

Total announced Monday that it is planning more than $3 billion in organic capital expenditure cuts and suspending its $2 billion buyback program. The company is also now planning $800 million in savings this year, up from its previously announced $300 million in savings.

When the company had announced its buyback program, oil was around $60 per barrel. Since the coronavirus outbreak and oil dispute between Saudi Arabia and Russia, oil has fallen as low as $24 a barrel.

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The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content.