Report Blames China For $18 Trillion Economic Damage To US From COVID-19

A recent report from the Heritage Foundation’s Nonpartisan Commission on China and COVID-19 claims that China’s negligence in handling the pandemic caused a staggering $18 trillion in economic damage to the United States. The analysis, reported by Fox Business, outlines the extensive financial impact the pandemic had on the U.S. economy, stemming from various sectors.

The commission’s report details the components of this immense cost: $8.6 trillion due to excess deaths, $1.825 trillion in lost income, $6 trillion from chronic conditions such as “long COVID,” and $1 trillion from mental health impacts. Additionally, educational losses accounted for $435 billion, bringing the total to over $18 trillion.

“The COVID-19 pandemic has exacted a staggering toll on the United States, both in human lives and in economic terms. The total estimated cost of $18.007 trillion is a stark reminder of the profound impact this global health crisis has had on the nation,” the report states. The commission emphasizes the importance of recognizing these costs to hold accountable those whose actions exacerbated the pandemic.

Between 2020 and 2022, the U.S. saw 1,476,457 excess deaths attributed to COVID-19. The real GDP fell 2.5% below projections during this period, illustrating the severe economic consequences. The report asserts that the virus “very likely stemmed from a research-related incident in Wuhan, China,” dismissing the natural origins theory due to lack of evidence despite extensive testing over four years.

The commission also highlights China’s initial cover-up of the virus, which began in December 2019, and its subsequent failure to contain the outbreak within its borders. These actions, according to the report, significantly worsened the global spread and impact of COVID-19.

To address these issues, the commission recommends several actions. These include Congress conducting a thorough review of China’s handling of the pandemic and evaluating U.S. domestic policies implemented in response. The report also suggests creating a task force to assist with claims against the Chinese government and facilitating lawsuits against the People’s Republic of China.

Further recommendations involve decoupling U.S. and Chinese commercial supply chains and auditing all U.S. funding for biomedical research in China. These steps aim to prevent similar situations in the future and hold China accountable for its role in the pandemic.

The Heritage Foundation’s report underscores the need for a strategic and coordinated response to mitigate the long-term impacts of the COVID-19 pandemic on the U.S. economy and to ensure accountability for those responsible.