The U.S. Treasury and Commerce Departments have outlined plans to create a sovereign wealth fund, though no final decisions have been made, a White House spokesperson confirmed on Wednesday.
The spokesperson emphasized the Administration’s commitment to using all available resources to fulfill President Trump’s goal of protecting the nation’s security and economic interests.
Sovereign wealth funds are investment entities owned by countries. They typically function as either an investment account, a development tool, or a blend of both.
President Trump initially ordered the establishment of the fund in February. He had suggested that revenue from tariffs on U.S. imports could provide the foundation for the wealth fund.
Treasury Secretary Scott Bessent mentioned in February that the government aimed to leverage existing U.S. assets to benefit the American people.
“There’ll be a combination of liquid assets, as well as other assets within the country that we plan to utilize for the benefit of the American people,” he explained at the time.
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