U.S. senators have said a retirement fund for federal employees should not invest in China.

The Federal Retirement Thrift Investment Board plans to switch to an MSCI index with Chinese companies.

  • But the Senators say this would "expose nearly $50 billion in retirement assets of federal government employees, including members of the U.S. Armed Forces, to severe and undisclosed material risks" from corporate ties to the Chinese government.

All part of the trade war merry-go-round.