The United States will create the largest sovereign wealth fund

US President Donald Trump has signed a decree on the creation of the national welfare fund, the idea of which he voiced during the election campaign. According to Trump, the country has all the necessary resources to implement this project. The initiative is being led by Treasury Secretary Scott Bessent and Commerce Secretary nominee Howard Lutnik. 

Bessent stated that the fund will be created within a year and will become a strategically important tool. Lutnik noted that the fund can be used for economic purposes, including facilitating the sale of TikTok, which operates in the United States due to Trump's decision to extend the deadline for the sale or closure of the company. 

During his election campaign, Trump stated that the fund could be funded by duties and invest in manufacturing, defense and medicine. Such funds are usually created by countries with large foreign exchange reserves, like China, or oil revenues, like Saudi Arabia. These funds are used to invest in stocks, technology, and infrastructure.