President Donald Trump and the U.S. Labor Department on Monday directed a board charged with overseeing billions in federal retirement dollars to halt plans to invest in Chinese companies.
Labor Secretary Eugene Scalia warned the Federal Retirement Thrift Investment Board that its current plan to invest federal savings would place “billions of dollars in retirement savings in risky companies that pose a threat to U.S. national security.”
The international index that the Thrift Savings Plan is set to start tracking later this year is called the MSCI ACWI ex USA IMI, which includes equities in a broad range of developed and emerging markets, including China. The top moments in business and politics – wrapped with exclusive color and context – right in your ears