Trump Tells China – We are Coming For You, You Will Pay!
Trump and his administration have said that they want China to pay for the roll they had in hiding the extent of the Pandemic, their refusal to disclose the truth, in the end, along with W.H.O. are responsible for hundreds of thousands of deaths around the world.
Senior officials The Washington Post is starting to look at ways to make China pay, either by punishment or demanding compensation from China for how they handled the Pandemic.
Senior administration officials with knowledge of internal planning told the newspaper that several agencies are supposed to meet Thursday to come up with a strategy for seeking retaliatory measures against China.
“Punishing China is definitely where the president’s head is at right now,” a senior adviser said.
In private, Trump and his aides have discussed stripping China of its “sovereign immunity,” which would then enable the U.S. government or victims to sue China for damages.
One of the idea’s being floated around is stripping China of its sovereign immunity, thus opening them and their assets in the U.S. to class-action lawsuits for their hand in the spread of the virus. George Sorial told this to the Washington post; it opens up a Pandora’s box on how China and other nations would react to such an unprecedented move.
Legal experts say that it could require congressional action. Some members of Congress have already drafted their laws that would strip China of immunity.
The question here is what China would do under such a case, from gold holdings to real-estate, sovereign debt of the U.S. they hold, such a move would put this all up on the auction block. China would try to liquidate; it would most likely result in quick legal moves to freeze all assets so they could not dump their sovereign debt and liquidate all holdings, thus releasing themselves of having to pay up.
Another tactic discussed would involve the U.S. canceling part of its debt obligations to China, two people with knowledge of internal conversations told the newspaper.
Two senior White House economic officials have since ruled out that possibility.
The reason for canceling this would come with the problem of future debt, nations and institutions financing U.S. debt would know in extreme circumstances the U.S. could seize that debt, outside of war, such a move has never been made, it would reduce the ability of the U.S. to borrow in the future.
Officials caution the White House is in very early planning stages and no plan has been agreed on.
Some officials disagree on when to act and how harshly. Economic advisers suggest a cautious approach, while the national security team supports a more robust response.
“Now is just not the right time,” one senior administration official involved in the talks said. “There will be a time to do it.”
Political advisers are pushing Trump to take a strong stance against China because they think it will boost his image.
In the end, with all the death, locked in our homes for over a month, watching the economy tank, Americans are demanding justice be served, it is time, Mr. President, to make China pay.