Photo: JIM WATSON / AFP / Getty Images
President Donald Trump signed an executive order on Monday (February 3) to create a sovereign wealth fund for the United States. This move aims to leverage the nation's financial resources for strategic investments. The fund, which is expected to be operational within the next year, could potentially be used to acquire assets like TikTok, according to President Trump.
The establishment of a sovereign wealth fund marks a significant shift in the U.S. economic strategy, aligning with similar funds in countries like Norway and Saudi Arabia. These funds typically invest in a variety of assets, including stocks, bonds, real estate, and infrastructure projects, to generate returns for the country.
President Trump emphasized the potential benefits of the fund, suggesting it could enhance the country's financial stability and provide a new avenue for economic growth. However, the specifics of how the fund will be managed and the exact sources of its capital have not been disclosed.
The creation of the fund comes amid ongoing discussions about the U.S. economy's resilience and the need for innovative financial strategies to maintain global competitiveness. The executive order is part of a broader effort by the Trump administration to bolster the nation's economic position on the world stage.
