The Trump administration has ordered the prevention of federal retirement assets from being invested in Chinese equities, according to documents obtained by Fox Business.

Fox published a copy of a letter on Monday, in which two top White House officials, Robert O’Brien and Larry Kudlow, tell Labour Secretary Eugene Scalia that the administration wants the Thrift Savings Plan to call off directing $4.5 billion, citing “significant and unnecessary economic risk.”

The news comes at a time of heightened tensions between the United States and China over the origins of the new coronavirus and response to the outbreak.

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