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Trump orders US companies to leave China ‘immediately' in extraordinary attack on Fed chief


Added 08-24-19 04:11:02am EST - “Donald Trump has issued an "order" to US companies to withdraw from China, as he suggested his own appointment as Federal Reserve chairman was a greater threat to the economy than Chinese leader Xi Jinping.The president told firms…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Trump orders US companies to leave China ‘immediately’ in extraordinary attack on Fed chief”. Below is an excerpt from the article.

Donald Trump has issued an “order” to US companies to withdraw from China, as he suggested his own appointment as Federal Reserve chairman was a greater threat to the economy than Chinese leader Xi Jinping.

The president told firms “to immediately start looking for an alternative” or make their products in America instead as he lashed out at the central bank’s chair Jerome Powell.

His Twitter outburst, which came shortly after China announced its latest retaliation in the ongoing trade war, prompted the US stock market to plunge more than 400 points, or 1.6 per cent,

Mr Trump is facing increasing pressure over the performance of the US economy amid speculation a looming recession could cost him the 2020 presidential election.

In recent weeks he has repeatedly urged the Federal Reserve to take action by cutting interest rates further than the quarter-point decrease announced last month.

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