President Donald Trump said on Thursday that the United States needs to pay debts before creating a sovereign wealth box.
“I prefer to pay debts and then do the box after the debt,” Trump said in Doha during a press conference.
Trump has signed an executive order in February ordering the creation of a sovereign wealth box next year. He has already said that the revenues acquired from the customs tariffs on American imports could form the basis for the wealth box.
The US debt is currently $ 36.2 trillion, according to the Treasury, above the limit of $ 36.1 trillion by Congress in January.
Sovereign funds usually depend on the country’s budget surplus to make investments, but the United States is working on a deficit. Its construction may require approval from Congress.
“As you know, they have no debts,” he said, referring to the Gulf region, habitat of some of the world’s largest wealth money. “It is good to have the box. I say to the Trade Minister Howard Lottenic), we are a little early because we have debts.”
(Participated in Andrew Mills reports; edited by Elisa Martinosi and Alex Richardson)
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