Trump Orders Creation of US Sovereign Wealth Fund

The creation of a US sovereign wealth fund has been directed by President Donald Trump through an executive order, despite the fact that the US government typically operates at a deficit. The creation of the fund would also require approval from Congress, which adds a layer of complexity to the process. TikTok, a social media platform owned by China-based ByteDance, has been mentioned in connection with the fund, with the President previously hinting at the possibility of the US taking a 50% stake in the platform.