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Scott Bessent, who joined Trump at the Oval Office, said the fund would be created in the next 12 months, calling it an issue “of great strategic importance.” Trump suggested the fund could be used to facilitate the sale of TikTok, which is currently operating in the US thanks to an extension he signed prolonging the deadline for a forced sale or shutdown.
“We have tremendous potential,” Trump told reporters in the Oval Office on Monday as he announced the move. The president said the action would charge Treasury Secretary Scott Bessent and Howard Lutnick, the nominee for Commerce secretary, with spearheading the effort.
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