Washington -President Trump took the first step on Monday. His government established an investment fund owned by the government. The task was the head of the Ministry of Finance and the Ministry of Commerce.
Mr. Trump signed an administrative order to accuse the Treasury Minister. Scott Betting and Howard LutnickMr. Scharf, Chief of Staff of Trump, announced that Mr. Trump's nominee leadership leadership has begun to "be expected to lead to the creation of the US sovereign wealth fund".
President said to reporters at the oval office on Monday: "We will create a lot of wealth for the fund. I think it is time to have a sovereign wealth fund."
President said that the United States may include Tikopok into the sovereign wealth fund in some way. Unless the Chinese parent company sells the application, the law that take effect in January is designed to prohibit the application, but Mr. Trump has delayed the implementation of the law and is currently living.
BESSENT said that the establishment of the fund will "make a profit for the assets of the asset and liabilities of the American people." He said that the sovereign wealth fund will be established and operated within 12 months, which makes our assets work for Americans. Minister of Finance said the Trump administration will study the best practice of global development funds.
The sovereign wealth fund usually uses a country's reserves and invests in funds to generate returns, which can be used to solve deficits, repay debts or strengthen savings. It is unclear what types of guarantee measures will be placed around the US investment funds to ensure its transparent reporting obligations and investment will not benefit political allies.
Other countries with sovereignty wealth funds include China, Singapore, New Zealand, Norway and Saudi Arabia.
Norwegian sovereign wealth fund is Norway's government pension fund, the largest asset in the world, with asset value of 1.7 trillion US dollars. This is a country with 5.5 million people. The Norwegian government can only spend a small number of funds each year, but it accounts for nearly 20 % of its annual budget.