Bessent says US sovereign wealth fund plans are on pause
ReutersMay 23, 2025 4:10 PM
WASHINGTON, May 23 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Friday the Trump administration's previously announced sovereign wealth fund plans have been paused.
President Donald Trump ordered the creation of the fund in February and has previously said revenue earned from tariffs on U.S. imports could form the basis for a wealth fund.
"I think (the) president's decided that it's on pause while we work on everything else that we're doing now," Bessent said during an interview with Bloomberg TV.
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