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Trump Orders Creation of US Sovereign Wealth Fund, Says It Could Buy TikTok
U.S. President Donald Trump signed an executive order on Monday ordering the U.S. Treasury and Commerce Departments to create a sovereign wealth fund and said it may purchase TikTok. From a report: "We're going to stand this thing up within the next 12 months. We're going to monetize the asset side ...
We're going to monetize the asset side of the U.S. balance sheet for the American people," Treasury Secretary Scott Bessent told reporters. Trump had previously floated such a government investment vehicle as a presidential candidate, saying it could fund "great national endeavors" like infrastructure projects such as highways and airports, manufacturing, and medical research. Typically such funds rely on a country's budget surplus to make investments, but the U.S. operates at a deficit.
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