U.S. President Donald Trump said that he could sign a Presidential order for the establishment of the Soblin Wealth Fund next year and buy a short video app Tactoku.
Trump did not get in the way on Monday, and it was unknown how that asset fund would work. Usually, such funds depend on the surplus of the country to invest, but the US government operates in the red. Its creation may also require approval from Congress.
“We are going to create a lot of wealth for funds,” Trump told reporters. “And I think it’s time for this country to have a Soblinwealth Fund.”
Trump has previously stated that as a presidential candidate, the government’s investment means, and that it can provide “large -scale national efforts” such as infrastructure projects such as expressways, airports, manufacturing, and medical research. Ta.
The administrative authorities did not mention how the funds are operated or raised, but Trump may have previously been funded by “tariffs and other intellectuals.” I mentioned it.
Finance Secretary Scott Bessent told reporters that a fund will be established within the next 12 months.
“We are going to monetize the asset side of the US balance sheet for Americans,” said Bessent. “There is an asset we have because the fluid assets, the combination of assets we have in this country, work to bring them for American people.”
According to the New York Times and Financial Times, former President Joe Biden’s administration was considering establishing such funds in November before Trump’s election.
Economics “Do not add”
An investor in Wall Street said the news was surprising.
Colin Graham, head of Robeco’s Multi -Asset Strategy in London, states: “The economic rules of experience are not included.”
According to the Sobulin Wells Fund’s international forums, there are more than 90 such funds around the world that manages over $ 8 trillion assets.
With another surprising twist, Trump suggested that Wealth Fund could buy Tactoku. Tactoku has been fate in the United States since the law, which demands that Chinese ordinances will be sold for national security or to face ban. January 19th.
After taking office on January 20, Trump signed a presidential order to delay the law execution by 75 days.
Trump states that he is discussing the purchase of Tactoku with multiple people and is likely to make a decision on the future of this month’s app. Popular apps include about 170 million American users.
“We’re probably going to do something with Tactoku,” said Trump. “If we do the right transaction, we will do it, otherwise we will not do it … we may put it into the sobrinewealth fund.”