Odaily News President Trump’s top advisers have presented him with a plan to create an investment fund run by the U.S. government, something Trump requested earlier this year — but the White House has disputed parts of the proposal.
President Trump has asked Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to jointly develop a proposal for a U.S. sovereign wealth fund, with the goal of submitting it in early May.
Multiple sources said the proposal had been submitted. However, the White House expressed concerns about the approach taken by the Treasury Department, one of the sources said.
The mechanism for the fund to operate is still under discussion and there are no plans to be announced yet, another source said.
A White House spokesman said in a statement: "Pursuant to President Trump's executive order, the Treasury and Commerce departments have developed plans for a sovereign wealth fund, but no final decision has been made." He added: "The administration remains committed to using all available tools to implement President Trump's directives and ensure the national and economic security of the United States." (CBS News)