Washington: The president of the United States, Donald Trump, has signed an executive order for the creation of a new investment fund owned by the government, which could buy the popular Video Tiktok application.
With the movement, announced on Monday, Trump instructed the Treasury and Commerce departments of the United States to establish the fund.
“We are going to establish this in the next 12 months. We are going to monetize the side of the United States’ balance assets for the American people,” said Treasury Secretary Scott Besent, journalists. “There will be a combination of liquid assets and assets that we have in this country while we work to get them to the American people.”
Trump had previously presented the idea of such government investment vehicle as a presidential candidate, saying that he could finance “great national efforts”, as infrastructure projects, including roads and airports, manufacturing and medical research.
The details on how would the fund operate and finance the fund were not available immediately, but Trump had previously suggested that it could be financed by “rates and other intelligent things.” In general, these funds depend on the budget surplus of a country to make investments, but the United States operates with a deficit.
According to the International Funds of Sovereign Funds, there are more than 90 funds of this type that manage more than $ 8 billion in assets.
Tiktok, which has around 170 million US users, was briefly disconnected just before a law required by its Chinese owner, Bytedance, who sells it for national security reasons or in front of a prohibition on January 19.
After assuming the position on January 20, Trump signed an executive order that sought to delay the application of the law in 75 days.
Trump has said that he is in conversations with multiple parts about the purchase of Tiktok and that he is likely to make a decision about the future of the popular application in February.
