The executive order signed by President Trump could be a game-changer for the US economy and social media landscape.
Trump has officially started the procedure to set up a sovereign wealth fund for the United States, potentially leading to the acquisition of TikTok. This executive order positions the fund to be one of the largest globally, following the examples of 90 other countries with similar funds. Amidst existing budget deficits, Trump aims to fund the initiative through tariffs and "intelligent things."
The US Treasury Secretary revealed this fund could leverage government assets for the betterment of Americans in the next year. The concept was reiterated during Trump's previous campaign, where he hinted at using tariffs from trading partners like China, Canada, and Mexico. While tariffs on Mexico and Canada have been briefly paused, Trump continues to explore revenue streams.
Notably, Trump directly associated TikTok with this wealth fund, given previous national security concerns involving the app's Chinese ownership. After a brief shutdown of TikTok, Trump reassured users that a resolution would be sought. He expressed interest in a potential acquisition by the fund but also acknowledged Microsoft is currently in talks for the purchase.
In the ever-evolving landscape of tech and social media, this proposed fund and its connection to TikTok might ignite competitive bidding among major tech players, including notable figures like Elon Musk and Larry Ellison. The future of both the fund and TikTok remains in the balance, with substantial implications for the US economy.
Trump has officially started the procedure to set up a sovereign wealth fund for the United States, potentially leading to the acquisition of TikTok. This executive order positions the fund to be one of the largest globally, following the examples of 90 other countries with similar funds. Amidst existing budget deficits, Trump aims to fund the initiative through tariffs and "intelligent things."
The US Treasury Secretary revealed this fund could leverage government assets for the betterment of Americans in the next year. The concept was reiterated during Trump's previous campaign, where he hinted at using tariffs from trading partners like China, Canada, and Mexico. While tariffs on Mexico and Canada have been briefly paused, Trump continues to explore revenue streams.
Notably, Trump directly associated TikTok with this wealth fund, given previous national security concerns involving the app's Chinese ownership. After a brief shutdown of TikTok, Trump reassured users that a resolution would be sought. He expressed interest in a potential acquisition by the fund but also acknowledged Microsoft is currently in talks for the purchase.
In the ever-evolving landscape of tech and social media, this proposed fund and its connection to TikTok might ignite competitive bidding among major tech players, including notable figures like Elon Musk and Larry Ellison. The future of both the fund and TikTok remains in the balance, with substantial implications for the US economy.
