China Reduces US Investment by 92%

China’s direct investment in the United States has fallen sharply in recent years amid a growing trade dispute between the world’s two biggest economies.

Chinese investments totaled $1.8 billion from January through May, representing a 92-percent drop against the same period a year ago. That’s the lowest level in seven years.

The negative sentiment prevailed, after Trump said that he could unleash new tariffs against China. The US president also stated that the trade deal that marked a truce in the long-running tariff row between the US and China is now of secondary importance to the coronavirus outbreak.

Speaking to reporters, Trump pushed the theory that Covid-19 originated from a laboratory in Wuhan, despite Beijing, along with some other countries, insisting there is no evidence to back the claim.

Trump has persistently slammed Chinese trade practices, calling them unfair. The US president has also accused Chinese companies of stealing American technology and intellectual property. As a part of restrictive measures in March, the US imposed tariffs on imports of steel and aluminum from China.