🚀🔶Trump's advisors presented a plan to establish an American sovereign wealth fund, but the White House objected to some of its contents.
🚀🔶Senior advisors to President Trump presented him with a plan to create a government-managed investment fund, which Trump requested earlier this year - but the White House objected to parts of the proposal. President Trump asked Treasury Secretary Scott Pruitt and Commerce Secretary Wilbur Ross to develop a joint proposal to create an American sovereign wealth fund, with the aim of presenting it by early May. Multiple sources reported that the proposal was submitted. However, the White House expressed concerns about the approach taken by the Treasury Department, according to one source. Another source stated that the operational mechanism of the fund is still under discussion and there are no plans to announce it yet. A White House spokesperson said in a statement: "According to the executive order issued by President Trump, the Treasury and Commerce Departments have developed plans to create a sovereign wealth fund, but no final decision has been made yet." 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)
