U.S. Plans Sovereign Wealth Fund Amid Economic Security Efforts

The U.S. Treasury and Commerce departments are in the process of crafting plans for a sovereign wealth fund, with details still under discussion, a White House spokesperson revealed on Wednesday. This initiative is part of a broader effort to enhance America's national and economic security.

The spokesperson emphasized the Administration's commitment to using all possible means to fulfill President Trump's directive. Sovereign wealth funds, owned by nations, typically serve as investment accounts or developmental tools, or a mix of the two.

President Trump announced the creation of the fund in February, suggesting that revenues from tariffs on U.S. imports could support its establishment. In February, Treasury Secretary Scott Bessent mentioned plans to capitalize on assets owned by the U.S. government to benefit American citizens.

(With inputs from agencies.)