US President Donald Trump has confirmed that his administration has asked for the withdrawal of billions of dollars in American pension fund investments in China and that other similar actions.

The US and China relations have deteriorated after the coronavirus outbreak. The US has expressed disappointment over Beijing's handling of the coronavirus which has claimed over 80,000 lives in America. China has also been accused of stealing Intellectual Property and research work.

"Billions of dollars, billions... Yeah, I pulled it back," Trump said on Fox Business News on Thursday.

Trump has also ruled out renegotiating the trade deal with China. The US and China at the beginning of the year signed Phase-1 of a trade deal, ending a bitter two-year tariff war that had rattled the global economy.

"The Chinese said somewhere that they would like to renegotiate the (trade) deal. We are not going to renegotiate. I am not happy with them," Trump said.

The US President also intends to prepare the country for future pandemics by restocking the national stockpile and bringing critical manufacturing back to the US. His comments came the same day a whistleblower testified that the Trump administration had failed to properly prepare for the current pandemic.

"My goal is to produce everything America needs for ourselves and then export to the world, including medicines," Trump said. "These stupid supply chains that are all over the world... the products are made in all different parts of the world - one little piece of the world goes bad, and the whole thing is messed up. We should have them all in the United States," he added.