President Trump has initiated an executive order to establish a sovereign wealth fund within one year, suggesting it could facilitate the acquisition of TikTok. Details are scarce regarding its operation, especially since the U.S. operates at a deficit. Trump highlights that funding might come from tariffs, emphasizing the fund's potential to generate wealth for national projects. Treasury Secretary Scott Bessent revealed that the fund's structure would include a blend of liquid assets, indicating a focus on harnessing U.S. resources for public benefit.
We're going to monetize the asset side of the U.S. balance sheet for the American people. There'll be a combination of liquid assets, assets that we have in this country as we work to bring them out for the American people.
We're going to create a lot of wealth for the fund. And I think it's about time that this country had a sovereign wealth fund.
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