TechFlow, May 8 — According to CBS News, U.S. Treasury Secretary Bessent and Commerce Secretary Rutton have submitted a proposal for an American sovereign wealth fund to Trump, but the White House has expressed concerns over certain aspects of the proposal. The fund would follow models used by Saudi Arabia and Norway, generating public returns through investments in natural resource assets. Trump previously hinted the fund might hold shares in TikTok, but specific mechanisms and plans for the use of proceeds remain under discussion. A White House spokesperson said the administration is still evaluating the proposals and has not made a final decision.
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