White House zeroes in on limit to Chinese stocks in pension fund

U.S. President Donald Trump attends Young Black Leadership Summit at the White House in Washington, U.S., October 4, 2019. REUTERS/Yuri Gripas

WASHINGTON: The Trump administration is moving ahead with discussions around possible restrictions on capital flows into China, with a particular focus on investments made by U.S. government pension funds, people familiar with the internal deliberations said.

The efforts are advancing even after American officials pushed back strongly against a Bloomberg News report late last month that a range of such limits was under review.

Trump officials last week held meetings on the issue just hours after White House adviser Peter Navarro dismissed the report as "fake news, ” and zeroed in on how to prevent U.S. government retirement funds from financing China’s economic rise, the people said.