Trump Signs Action Directing Creation of Sovereign Wealth Fund

Bloomberg News

Summary

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Trump made the announcement in an Oval Office executive-order signing ceremony.
NBC News
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President Donald Trump signed an executive order that outlines plans to for a government-run sovereign wealth fund to serve as an economic development tool and perhaps be used to buy TikTok.
CNBC
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The fund is expected to be created in the next 12 months by the U.S. Treasury and Commerce Departments, though it’s not immediately clear how.
TechCrunch
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Typically such funds rely on a country’s budget surplus to make investments, but the US government operates at a deficit.
Aljazeera

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