The economic war between the United States and China, worsened during the pandemic, continues with renewed force.
U.S. President Donald Trump, who accused China of creating the coronavirus, is trying to maximize the severance of economic ties between countries. Thus, the head of the White House instructed the relevant agencies to withdraw American assets from the Chinese securities.
“National Security Adviser Robert O’Brien and Chairman of the National Economic Council Larry Kudlow wrote to U.S. Secretary of Labor Eugene Scalia on Monday. It says the White House does not want the U.S. Savings and Pension Fund to keep money in Chinese equities, whose assets are about $4 billion”, – Fox reported.
In turn, the head of the U.S. Labor Ministry appealed to the head of the U.S. Pension Fund with a similar message, which concluded that the withdrawal of assets from the Chinese securities is carried out “by order of President Trump. The answer of the head of the fund is expected by Wednesday, May 13.
It should be noted that this step is likely to increase tension between the U.S. and China.