White House unveils plan to set up sovereign wealth fund
The White House said in a statement late Monday that US President Donald Trump signed an executive order to begin developing a US government-owned investment fund, per Reuters.
Additional takeaways
The fund could be used to profit from TikTok if an American buyer is found.
TikTok has until early April to secure an approved partner or buyer.
Trump wants the US to take a 50% stake in TikTok.
TikTok is cited as an example of a potential asset for the new sovereign wealth fund.
Treasury Secretary Scott Bessent and Commerce Secretary nominee Howard Lutnick will lead efforts to establish the fund, which may need congressional approval.
Market reaction
As of writing, the US Dollar Index (DXY) is recovering at around 108.70, up 0.28% on the day.
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.