The U.S. Treasury and Commerce departments are actively working on plans to establish a sovereign wealth fund, though no final decisions have been made, according to a statement from a White House spokesperson on Wednesday.
“The Administration remains committed to using every tool available to deliver on President Trump’s directive to safeguard America’s national and economic security,” the spokesperson added.
Sovereign wealth funds are state-owned investment vehicles that typically serve as either investment accounts or development tools, or a combination of both.
President Donald Trump first called for the creation of such a fund in February. He has suggested that the revenue generated from tariffs on U.S. imports could serve as a foundational source for this wealth fund.
In a statement earlier this year, Treasury Secretary Scott Bessent emphasized the plan to monetize assets already owned by the U.S. government “for the American people.” He noted that the fund would involve a mix of liquid assets and other domestic assets that would be utilized for the benefit of U.S. citizens.
Related topic:
China Unveils Stimulus to Boost Economy Ahead of Trade Talks
