Donald Trump Orders Federal Employee Retirement Fund to Cease Investing in Chinese Equities

Tensions between China and the US were already at an all-time high much before the coronavirus pandemic. Now, the countries have resorted to a blame game regarding the origins of the virus, as well as its ill-handling, which ultimately led to the rapid spread of the pandemic. As a response, Donald Trump has ordered Eugene Scalia, the US Labour Secretary, to exclude the Thrift Savings Plan, which is a federal employee retirement fund, from investing in Chinese equities.

Both Larry Kudlow, who is the National Economic Council Chair, and Robert O’Brien, the national security advisor, penned a letter to Eugene Scalia, insisting the White House’s discontent with investments in Chinese companies, ordering the Thrift Savings Plan to pull out $4 billion worth of invested assets. According to the letter, both Kudlow and O’Brien state a perceived threat to national security and investment risks as the reasoning behinfd the sudden requested withdrawal.

Selkirk Copper Mines — sponsored Sponsored · Selkirk Copper Mines

Scalia then reiterated the request to the chairman of the Federal Retirement Thrift Investment Board, Michael Kennedy, adding that the order was initiated by the President. Such a move will most likely further intensify tensions between the two countries, and jeopardize the Phase One trade deal.

Information for this briefing was found via Fox Business. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Everybody Should Own Gold | George Bee – U.S. Gold Corp.

A $40M Company Created $2B in Mining Value | John-Mark Staude – Riverside Resources

The Debt Crisis Is Turning Gold Into Money | Shawn Khunkhun – Contango Silver and Gold

Recommended

First Majestic Produces 3.4 Million Ounces of Silver in Q3 2026, Jerritt Canyon Restart Remains on Track

Altamira Gold Drills 134 Metres of 0.5 g/t Gold at Maria Bonita, Hole Ends in Mineralization

Related News

Chinese Titanium Export Ban Would Hit US Defense, Tech Industries Hard

A potential Chinese export ban on titanium would severely impact critical US industries, from aerospace...

Tuesday, July 22, 2025, 07:31:00 AM

China-Central Asia Railway Project Advances, Offering Potential New Route to Europe

Kyrgyzstan, Uzbekistan, and China have finalized a decades-in-the-making agreement to construct a new railway that...

Friday, June 21, 2024, 03:42:00 PM

China Reacts to West’s Sanctions on Russia

The Chinese government is opposing sanctions introduced by the West and the EU against Russia,...

Monday, February 28, 2022, 02:52:00 PM

Missouri Threatens to Seize Chinese Assets After $24.5 Billion COVID Judgment

Missouri Attorney General Andrew Bailey has announced (likely futile) plans to seize Chinese-owned assets across...

Friday, March 14, 2025, 02:57:00 PM

Russia Agrees to Grant China Access to Major Trade Route, Giving Security Issues for Japan

In a significant geopolitical shift, Russia has agreed to grant China access to navigate the...

Tuesday, June 18, 2024, 04:26:00 PM