White House blocks pension fund investment in Chinese stocks

Trump aides seek to stop money flowing into companies that threaten US security

20200511N White House

A worker is seen during the build of a wall at the White House on Pennsylvania Avenue in Washington. © Reuters

WASHINGTON (Reuters) -- The Trump administration is pressing a board charged with overseeing billions in federal retirement dollars to halt plans to invest in Chinese companies that Washington suspects of abusing human rights or threatening U.S. security.

At issue is whether administrators of the Thrift Savings Plan (TSP), a retirement savings fund similar to a 401(k) for federal employees and members of the military, should allow its $50 billion international fund to track an index that includes some China-based stocks of companies under scrutiny in Washington.

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