Trump is reportedly looking into hitting Beijing with 'antique' debt obligations from Imperial China


The Trump administration amid the U.S.-China trade war is apparently examining the "loony" idea of going to Beijing with century-old debt obligations.
Owners of 100-year-old Chinese bonds have been asking President Trump to get Beijing to honor them, Bloomberg reports, with the administration currently "studying" this "unlikely prospect." This debt hasn't been recognized by the People's Republic of China, but Trump, Treasury Secretary Steven Mnuchin, and Commerce Secretary Wilbur Ross have reportedly held meetings with bondholders to discuss it.
In fact, Jonna Bianco, who is leading an organization that's been lobbying Trump in hopes that these bonds can become an unexpected tool in the U.S.-China trade war, suggested to Bloomberg that these debt obligations adjust to about as much as the U.S.' $1 trillion debt to China. "What's wrong with paying China with their own paper?" she asked.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Still, Duke University law professor Mitu Gulati told Bloomberg that "I think everyone who works for Trump at the Treasury Department thinks this is loony," although Gulati couldn't help but be intrigued, "because at a legal level these are perfectly valid debts." So could the U.S. really gain an upper hand in its trade war with China thanks to a bunch of people riffling through their attics looking for dusty old pieces of paper? Probably not, but for 2019, it sounds about right.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
An introvert's dream? Flu camps that offer £4,400 to spend two weeks alone
Under The Radar A fortnight in isolation may not be as blissful as it sounds
-
Can Trump put his tariffs on stronger legal footing?
Today's Big Question Appeals court says 'emergency' tariffs are improper
-
Film reviews: The Roses, Splitsville, and Twinless
Feature A happy union devolves into domestic warfare, a couple's open marriage reaps chaos, and an unlikely friendship takes surprising turns
-
US kills 11 on 'drug-carrying boat' off Venezuela
Speed Read Trump claimed those killed in the strike were 'positively identified Tren de Aragua Narcoterrorists' shipping drugs to the US
-
Trump vows to send federal forces to Chicago, Baltimore
Speed Read The announcement followed a California judge ruling that Trump's LA troop deployment was illegal
-
Trump crypto token launch earns family billions
Speed Read The World Liberty Financial token is now the Trump family's 'most valuable asset'
-
RFK Jr. names new CDC head as staff revolt
Speed Read Kennedy installed his deputy, Jim O'Neill, as acting CDC director
-
DC prosecutors lose bid to indict sandwich thrower
Speed Read Prosecutors sought to charge Sean Dunn with assaulting a federal officer
-
White House fires new CDC head amid agency exodus
Speed Read CDC Director Susan Monarez was ousted after butting heads with HHS Secretary Robert F. Kennedy Jr. over vaccines
-
DOGE put Social Security data at risk, official says
Speed Read DOGE workers made the personal information of hundreds of millions of Americans vulnerable to identity theft
-
Court rejects Trump suit against Maryland US judges
Speed Read Judge Thomas Cullen, a Trump appointee, said the executive branch had no authority to sue the judges