US mulling potential retaliatory action against China over COVID-19

US President Donald Trump meets China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, on Jun 29, 2019. REUTERS/Kevin Lamarque/File PhotoWASHINGTON: There is a growing push within the Trump administration to craft a list of retaliatory measures against China over its role in the coronavirus outbreak, two sources familiar with the matter said, but cautioned the efforts were in early stages.

"There is a discussion as to how hard to hit China and how to calibrate it properly," one of the sources said as Washington walks a tight rope in its ties with Beijing while it imports personal protection equipment from there and is also wary of hurting a sensitive trade deal. Trump's top economic adviser denied the report."The full faith and credit of US debt obligations is sacrosanct. Period. Full stop," White House economic adviser Larry Kudlow told Reuters."Similarly is the reserve currency status of the US dollar," Kudlow said."The story's completely wrong."

The strongest pressure for action is coming from the National Security Council, including deputy national security adviser Matthew Pottinger, while Treasury officials are advising caution, the sources said.

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