June 20 (UPI) — Investments from China to the U.S. market is plunging amid a growing trade war between the two countries, analysts said.
From January through May, Chinese investments totaled $1.8 billion — a 92-percent drop from the same period a year ago, and the lowest level in seven years, a report by the Rhodium Group said.
The decline, though a more significant drop, follows last year’s trend as Chinese companies that were once pumping cash into the U.S. market cut many investments.
In 2017, investments totaled $29.7 billion — down 36 percent from $46.5 billion in 2016.
Monday, President Donald Trump upped the ante in the trade war by vowing to hit Beijing with another $200 billion in tariffs if it retaliates for earlier tariffs.
The Chinese Commerce Ministry accused the United States of “extreme pressure and extortionist behavior” and vowed to “strike back hard.”