President Trump is allegedly leading a project to remove global supply chains from China as a response to the country's mishandling of the coronavirus pandemic that originated there.
"This moment is a perfect storm; the pandemic has crystallized all the worries that people have had about doing business with China," a top U.S. official told Reuters. "All the money that people think they made by deals with China before, now they've been eclipsed many fold by the economic damage [from the pandemic]."
Keith Krach, undersecretary for Economic Growth, Energy and the Environment at the State Department, told Reuters that the U.S. has been working on removing U.S. supply chains from China, but that the pandemic is "now turbo-charging that initiative."
Trump is looking to create an alliance of "trusted partners" named the "Economic Prosperity Network." He also plans to potentially leverage massive new tariffs against the country. The group would include companies and civil society groups operating under the same guidelines on everything, including digital business, energy, infrastructure, research, trade, education, and commerce.
? The move follows China covering up the severity of the coronavirus, which originated in Wuhan, so that it could hoard medical supplies from around the world, according to a report from the Department of Homeland Security.