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The President of the United States, Donald Trump, has just asked the Federal Pension Fund of this country to withdraw billions of dollars from Chinese stocks. This is the next move in the war with Beijing, from trade, currency … now the capital market.
United States President Donald Trump and the United States Department of Labor have directed the management of hundreds of billions of dollars in federal pension funds to halt plans to invest in Chinese companies on the stock market. values.
Consequently, Trump does not want retirement funds for US military and federal personnel. USA Invest in Chinese stocks. While the United States Secretary of Labor, Eugene Scalia, said that the current plan is putting billions of dollars in businesses that risk and threaten national security.
Secretary Eugene Scalia also shared a letter from the Director of the National Economic Council, Larry Kudlow, and from National Security Adviser, Robert O’Brien, saying that the White House did not want the Savings Plan (TSP). ), a federal pension fund, invested in Chinese stocks.
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| Donald Trump ordered the withdrawal of investment money in Chinese stocks. |
TSP’s retirement investment program has released an international index, MSCI ACWI ex USA IMI, which targets stocks in emerging and developed markets, including China.
According to a letter quoted by CNBC, this is the direction of President Donald Trump and the fund administration must “immediately” stop all steps related to the investment of I Fund, a fund under the TSP Program. .
I Fund is a fund that manages assets of up to $ 41 billion, out of a total of $ 557 billion TSP (as of end of March 2020).
According to Fox Business, the total value of this fund is investing in Chinese stocks at around $ 4 billion.
Therefore, with Mr. Trump’s decision, hundreds of billions of dollars from the pension funds of the US federal and military personnel. USA They will not be able to invest in the Chinese stock market. In addition, $ 4 billion will be withdrawn from this market.
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| Tensions between the United States and China continue to rise. |
United States President Donald Trump is gradually reducing the investment relationship between the United States Federal Pension Funds and Chinese stocks. This is the next move in the war with Beijing, from trade, currency … now the capital market.
The move comes amid the Trump administration’s desire to impose more taxes on China after the White House accused Beijing of concealing information about the Covid-19 grade respiratory tract pandemic that later spread to the entire world. bridge, leaving more than 4 million infected and hundreds of thousands dead. The United States is the country with the most damage.
The Trump administration also closely monitors and considers the possibility of punishing China if Beijing fails to comply with the first-stage trade agreement signed in January.
V. Ha
