President Donald Trump said Thursday that he is analyzing ways to strike China in revenge for how he reacted to the coronavirus pandemics.
“We can do a lot,” said President Trump in an interview with Fox News.
“Let’s wait and see what happens: we will save $ 500 billion,” he said, without specifying how he calculated the amount
The Trump administration is analyzing ways to punish Beijing for what it described as hiding information about the virus at the end of last year and early 2020, when the epidemic spread in Wuhan, then in China, and then around the world.
The United States may give Americans the right to sue China for damage associated with the effects of COVID-19 on the economy and people’s lives. To date, the United States has 84,000 dead, the largest number of victims compared to any other country. According to some forecasts, by August, 147 thousand people are expected to die.
The United States may also impose sanctions or travel bans on China, limiting the ability of American enterprises to lend to Chinese companies.
“I am very disappointed with China,” said President Trump.
The United States may force Chinese companies to follow US accounting standards before allowing the sale of their shares on the US stock exchange. These companies are currently not required to comply with such standards.
The president said that if the United States places such demands on Chinese companies, many may prefer to trade stocks on the Hong Kong or London Stock Exchange.
As of early 2019, 156 Chinese companies are trading on the US stock exchange for a total value of $ 1.2 trillion.
Earlier this week, President Trump ordered a government employee retirement fund to raise $ 4 billion invested in Chinese companies, arguing that China poses a risk to investment and national security.