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Larry kudlow, director of the White House's national economic committee, said Tuesday that he believed China would not sell US Treasuries.
Data released by the U.S. Treasury on Friday showed that China reduced its holdings of U.S. government bonds by about $11 billion in March. But before the new crown epidemic, China increased its holdings of US Treasuries for the second consecutive month in February. China is the second largest offshore holder of US debt, second only to Japan.
It is expected that the central bank will sell US Treasuries to support a weaker yuan exchange rate. The economic impact of the epidemic weakened the yuan.
Some analysts believe that in the future, foreign central banks, especially those in emerging markets, will reduce US debt positions to boost the exchange rate of their own currencies and fight against the impact of the epidemic.
In addition, Kudrow said President trump would like to see the US payroll tax cut by 7.6%, hoping it will help ease the economic damage caused by the new crown.
"I know the president wants to see the payroll tax cut by 7.6% for those who return to work, so that their real after tax income will increase," Kudrow told Fox Business

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