President Donald Trump said he was creating a new American sovereign wealth fund that he indicated to be used in the forced acquisition of Tiktok.
Trump signed a new executive order to determine it and noticed that other countries have specifically pointing out Oilkijk Saudi Arabia.
“I have the right to do that,” said Trump, after I mentioned the potential to use the fund for a Tiktokkoop.
Secretary of staff Will Scharf described the order as acting to 'start a process that will hopefully result in creating an American sovereign wealth fund' – which indicates that it is a shortage of bloom.
“It's a very exciting event. We are going to have a sovereign wealth fund that we have never had. We have many things that create wealth, “said Trump.
“We're going to get up this thing in the next 12 months, we're going to make money on the assets side of the American balance for the American people,” said Finance Minister Scott Bessent, who was at Trump in the Oval Office while he was with reporters spoke about the order.
President Donald Trump signed an order to start creating a sovereign wealth fund that Trump describes as possible to participate in the takeover of Tiktok
“We're going to put the assets to work,” Bessent added.
In his follow-up comments, Trump made it clear that a goal was to become the US government a potential part-owner of Tiktok, the hugely popular online platform that he credits to helping his re-election campaign.
Trump has previously spoken about the idea, after signing an order that has granted a 75-day postponement of a law that requires the sale of the platform. The law called for the sale of the company if his parent-bytedance, established in China, had not been divested after the legislators and Trump themselves had expressed concern about safety. It was signed by President Joe Biden.
Trump said he wants the US to take a 50 percent interest in the company.
“Tiktok – we might do something, with ticktok, and maybe not, if we close the right deal, we will do it, otherwise we will not do that, but I have the right to do that,” Trump said. 'And we can place that in the sovereign wealth fund, whatever we make or we do a partnership with very rich people. Many options, but we could place that as an example of the fund. '
Tiktok, whose CEO Shou Zi Chew (C) is, has claimed that it is not a safety risk for Americans
Trump noted that 'other countries have sovereign power funds, and they are much smaller countries, and they are not the United States. We have huge potential in this country, huge you see that what has just happened in a short period, and as an example, Tiktok, we are going to do something, perhaps with recording – and perhaps not – that we close the right deal . '
“But I have the right to do that, and we can place that in the sovereign wealth fund,” said Trump.
Such funds are often used by countries with raw materials that can be invested to cover volatility and safe investment profits.
Although the US is the world's largest economy, it also has a debt of more than $ 30 trillion, with annual interest payments that are approaching $ 1 trillion.
