PANews reported on May 8 that according to a report by CBS, Trump asked Treasury Secretary Bessant and Commerce Secretary Lutnick to jointly develop a proposal on the US sovereign wealth fund by early May earlier this year, but the White House rejected part of the proposal. Currently, multiple sources said that the proposal has been submitted. However, one of the sources said that the White House is concerned about the approach taken by the Treasury Department. A source said that the details of the fund's operating mechanism are still under discussion and no news will be announced in the near future. Trump said before traveling to the Middle East next week that he would make a "very big announcement", but this has nothing to do with the proposed sovereign wealth fund. Trump has not yet decided how to use the proceeds from the sovereign wealth fund.
The White House said the Treasury and Commerce departments have developed plans for a sovereign wealth fund, but no final decision has been made.
