President Trump just overruled his Wall Street advisers and fired a $160 billion threat heard around the world.
Trump said yesterday that he will send a bill to China for more than $160B for the economic damage caused by the pandemic and Trump holds many cards.
He was coy in how he would send the bill, but remember, China holds a lot of our long-term debt and it seems logical we will reduce the amount we owe them by the amount of damage they caused.
From The Daily Mail:
President Donald Trump said he intends to bill China for a ‘substantial’ amount for damages caused by the coronavirus.
During a press conference at the White House on Monday, Trump made the threat to China after being asked whether he was considering seeking money from Beijing for its response to the pandemic.
The idea of seeking reparations from China came after a German newspaper published a mocked-up bill of a $160billion invoice for the impact shutdowns have had on the economy following the spread from Wuhan to Europe.
The president claimed he had a ‘much easier’ idea and claimed he was planning on obtaining much more than what the Germans were suggesting.
China’s role in trying to cover up the extent of the virus when it first came to light has been used to blame the Communist country for the spread of the disease around the world and preventing other countries from being prepared.
President Trump has been one of the most vocal world leaders in attacking the authoritarian regime and has sort to shift culpability from his own administration’s response to Beijing.
‘We have ways of doing things a lot easier than that,’ Trump told a coronavirus press briefing Monday in Washington DC.
‘Germany’s looking at things, and we’re looking at things, and we’re talking about a lot more money than Germany’s talking about.
‘We haven’t determined the final amount yet. It’s very substantial,’ Trump added.
Last week German paper Bild calculated an ‘invoice’ of nearly €150billion (around $162billion) in economic damage to Germany because of the crisis.
The idea of charging reparations to China is not endorsed by the German government, with Minister of Foreign Affairs Heiko Mass describing the concept as ‘illusory’.
Trump’s press conference demand for Chinese reparations came days after he threatened via Twitter to cancel the briefings after he stormed out at the weekend after just 22 minutes.