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  5. Trump Orders Creation of US Sovereign Wealth Fund

Trump Orders Creation of US Sovereign Wealth Fund

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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.

  1. US
    Donald Trump
    Republican Party
    1. We're going to be doing something perhaps with TikTok and perhaps not.
    2. We're going to stand this thing up within the next 12 months. We're going to monetize the asset side of the U.S. balance sheet for the American people.
    3. We're going to create a lot of wealth for the fund.
    4. We might put that in the sovereign wealth fund, whatever we make or we do a partnership with very wealthy people, a lot of options.
    5. And I think it's about time that this country had a sovereign wealth fund.
  2. US
    Howard Lutnick
    US Department of Commerce
    1. The extraordinary size and scale of the US government and the business it does with companies should create value for American citizens.
  3. US
    Scott Bessent
    US Treasury Department
    1. We're going to monetise the asset side of the US balance sheet for the American people.
    2. 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.
  4. GB
    Colin Graham
    Robeco
    1. The economic rules of thumb don't add up.
    2. Creating a sovereign wealth fund suggests that a country has savings that will go up and can be allocated to this.

sources

  1. 1.The Times of India
  2. 2.Al Jazeera
  3. 3.The Times
  4. 4.Financial Times
  5. 5.New York Times

perspectives

  1. 1.US under Donald Trump
  2. 2.US Politics
  3. 3.US Economy
  4. 4.Central Bank
  5. 5.Banking industry

countries

  1. 1.ChinaCN
  2. 2.NorwayNO
  3. 3.Saudi ArabiaSA
  4. 4.SingaporeSG
  5. 5.United StatesUS

organizations

  1. 1.TikTokCN
  2. 2.ByteDance LtdCN
  3. 3.Center for Global Development
  4. 4.Economic Club of New York
  5. 5.GIC
  6. 6.Government Pension Fund Global
  7. 7.Robeco
  8. 8.Temasek Holdings
  9. 9.US House Committee on Energy and Commerce
  10. 10.WorldCom

persons

  1. 1.Donald TrumpUS
  2. 2.Scott BessentUS
  3. 3.Howard LutnickUS
  4. 4.Joe BidenUS
  5. 5.Colin GrahamGB