The White House has warned the Railroad Retirement Board, a federal agency, that its investments in Chinese assets are an “unnecessary economic risk” that pose a national security threat to America, reported the Financial Times.
Robert O’Brien, national security adviser, said in a letter that “such investment . . . channels American worker funds into [People’s Republic of China] companies that raise significant national security and humanitarian concerns”.
He added that the agency was “permitting hundreds of millions of dollars” in retirement funds managed by the National Railroad Retirement Investment Trust to be invested in Chinese companies, including some under US sanctions, in the letter penned with Larry Kudlow, the White House economic adviser.