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The United States Treasury and Trade Departments will establish a sovereign wealth fund in accordance with a new President of the Executive Order Donald Trump Signed on Monday.
According to Trump, the Sovereign Wealth Fund, a state investment fund with various financial assets such as shares and bonds, could do the bill to buy Tiktok.
“Let’s do something maybe with Tiktok, and maybe not,” Trump told journalists on Monday. “If we make the right agreement, we will. Otherwise we will not.”
“But we could give it an example in the background,” said Trump. “And we have many other things that we could put in the background. And I think in a short period of time we would have one of the largest funds.”
The United States Treasury and Trade Departments will establish a sovereignist wealth fund in accordance with a new executive order that President Donald Trump signed on Monday. (Jabin Botsford/The Washington Post through Getty Images)
Countries such as Norway and Saudi Arabia use sovereignist wealth funds, as they do several -North -Americans.
Treasure Secretary Scott Betting He said that the sovereignist wealth fund would be created for the next 12 months.
“I think it will create value and it will be of great strategic importance,” Bessent told journalists on Monday.
According to the White House, the Secretary of Bessent and the Secretary of Commerce, Howard Lutnick. The proposal will include recommendations for financing mechanisms, investment strategies, fund structure and a governance model.
More details on the sovereignist wealth fund were not immediately available, and it is unclear if Congress will sign it.
Treasure Secretary, Scott Bessent, shown here in January, said that the sovereignist wealth fund would be created for the next 12 months, labeling the initiative as a great strategic importance. (Getty)
However, Trump pointed out the campaign’s way in 2024, which was interested in a sovereignist wealth fund, using the revenue of the rates to pour in the wealth fund and then use this money to pay for projects such as motorways, airports. and medical research.
In addition, representative Morgan McGARVEY, D-KY., Introduced legislation in September 2024 called American Sovereign Wealth Fund Exploration Act to investigate ways of creating a fund of sovereignist wealth in the United States.
Trump, meanwhile, has weighed Tiktok’s future in recent weeks and said he has talked with various parties interested in buying the app.
Although Tiktok was briefly out of line for US users in January after The Supreme Court confirmed the prohibition of the social media platformTrump signed an executive order a few hours after its inauguration on January 20, which delayed Tiktok’s ban for 75 days.
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The United States Supreme Court confirmed Tiktok’s ban in January, and cited national security concerns due to the ownership of the social media platform. (The Associated Press)
The unanimous ruling of the Supreme Court on Tiktok’s prohibition cited national security concerns, specifically due to the “relationship with a foreign adversary” and the application collection practices.
But Trump said in the executive order that he delayed the prohibition that “has a single constitutional responsibility for the National Security of the United States, the conduct of foreign policy and other vital executive functions.”
“To fulfill these responsibilities, I intend to consult with my advisers, including heads of relevant departments and agencies about the National Security concerns that Tiktok proposes and to pursue a resolution that protects national security while saving a platform used by 170 million north -Americans, “said Trump in the executive order. “My administration must also review sensitive intelligence related to these concerns and evaluate the sufficiency of the mitigation measures that Tiktok has so far.”
Andrea Margolis, Associated Press and Fox News, contributed to this report.
