The assets at hand number around $4.5 billion in Chinese stocks
President Trump is moving to cut investment ties between U.S. federal retirement funds and Chinese equities, FOX Business has learned in a move that is tied to the handling of COVID 19.
In the first letter written Monday, obtained exclusively by FOX Business, national security adviser Robert O’Brien and National Economic Council Chair Larry Kudlow write to U.S. Labor Secretary Eugene Scalia stating that the White House does not want the Thrift Savings Plan, which is a federal employee retirement fund, to have money invested in Chinese equities that numbers about $4 billion in assets.
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Update: Yuan, Futures Slide After Trump Orders Retirement Fund Investment In Chinese Stocks Blocked (Zero Hedge).
WNU Editor: The amount of money that is involved in this pull-out is small (about $4 billion). But the message it sends is huge.
