President Donald Trump has signed an executive order to create a US sovereign wealth fund within a year, potentially to invest in TikTok. Although details on funding and operations remain vague, this fund could use tariffs as a financial source. The move has drawn skepticism from Wall Street investors, as the US operates at a budget deficit. Treasury Secretary Scott Bessent emphasized monetizing US assets to benefit the public, an idea that was previously explored by the Biden administration.
The creation of a sovereign wealth fund suggests that a country has savings that will go up, but the US operates at a deficit.
Trump is eager to create a sovereign wealth fund, expressing that it's time the US has one, focused on enhancing national investment.
Administration officials provided little detail on how the fund would operate or be financed, though Trump suggested tariffs as a potential funding source.
The fund aims to monetize US assets for the public good, potentially taking cues from earlier considerations by the Biden administration.
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