Home » News » Donald Trump Confirms Pulling Out US Pension Fund from China Investments

US President Donald Trump has confirmed that his administration has asked for the withdrawal of billions of dollars in American pension fund investments in China and that other similar actions were in consideration, after US and China relations, have deteriorated following the coronavirus outbreak.

“Billions of dollars, billions… Yeah, I pulled it back,” Trump said on Fox Business News on Thursday.

The US has expressed disappointment over Beijing’s handling of the coronavirus which has claimed over 80,000 lives in America and also accused China of stealing Intellectual Property and research work.

The President was also asked whether he will force Chinese companies to follow all conditions for being listed at the New York Stock Exchange and the NASDAQ for which Trump said “We are looking at that very strongly. It’s pretty amazing but here’s the problem with that. Let’s say we do that, right? So, what are they going to do? They are going to move their listing to London or someplace else. You see?”

Earlier on Monday, President Donald Trump said that he opposed renegotiating the U.S. China trade deal, after a Chinese newspaper reported that some government advisers in Beijing were considering invalidating the agreement.

Meanwhile, according to news reports, China is mulling actions against US lawmakers who have introduced legislation in the Senate proposing sanctions against China for its handling of the coronavirus outbreak.

“The Chinese government is lashing out at those who are appropriately trying to hold them accountable for intentionally misleading us about the nature of the novel coronavirus, where it was spreading and how quickly things were getting out of control. I consider their threats a badge of honor,” Congressman Jim Banks said.

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