U.S. plans a significant reduction of its diplomatic mission in China
- will hit the embassy in Beijing as well as consulates in Guangzhou, Shanghai, Shenyang, Wuhan, and Hong Kong.
- move is part of Trump’s broader initiative to cut government spending
- potential layoffs could occur by Friday
The diplomatic hub in Beijing currently accommodates over 1,300 staff, representing nearly 50 U.S. federal agencies.
US State Department has not yet commented.
Not just tariffs.
This article was written by Eamonn Sheridan at www.forexlive.com.
