PANIC!
Wait, 3 percent of 1 percent?
Yes, 100 times smaller than 3 percent.
Say 100,000 die out of 300M people (actually, the population is even larger than that). That's 0.0003.
So, since 0.0086 of the US dies every year on average, this could bump up the US death rate by 3 / 86 = 3.5% this year.
Except not it wouldn't even be that much, because a large fraction of those who die weren't going to make it through a normal 2020 anyway.
It's still not at all clear that this was worth imploding the economy for. Remember that 81,000 died of the flu in 2018 and no one even blinked.
So? Similar to the flu except they stop counting in spring/summer otherwise you'd see similar rates. That number means nothing without putting it into context to how many would have died anyways and how many additional patients would have died by catching any infectious disease.