Official records from the U.S. Congress and government announcements

Trump Proposes U.S. Sovereign Wealth Fund for National Projects, Financed by Tariffs

Sep 5, 2024, 05:31 PM

Former President Donald Trump has proposed the creation of a U.S. sovereign wealth fund aimed at investing in national development projects. Speaking at the Economic Club of New York, Trump suggested that the fund would be financed through tariffs and would invest in infrastructure such as highways, airports, advanced technologies, and cutting edge medical research. The returns from the fund would be used to pay down the national debt. This proposal has sparked debate, given the U.S.'s current $35 trillion debt. Critics question the feasibility and economic impact of such a fund, especially when financed by tariffs.