President Trump has tasked Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick with jointly developing the proposal for a U.S. sovereign fund, with the aim of presenting it by early May.

Several sources indicate that the proposal has been submitted, but according to one source, the White House has expressed concern about the approach taken by the Treasury Department.

Discussions are underway regarding the operational mechanisms of the fund, and no official plans have been announced, another source stated.

A White House spokesperson said: "In accordance with President Trump's executive order, the Departments of Treasury and Commerce have developed a plan for a sovereign fund, but no definitive decision has been made yet." The spokesperson added: "The administration remains committed to using all available tools to carry out President Trump's directives and ensure the economic and national security of the country."