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Trump creates U.S. sovereign wealth fund – may purchase TikTok

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On Monday, President Trump signed an executive order to create the first-ever U.S. sovereign wealth fund, with TikTok potentially becoming one of its first acquisitions. Trump emphasized the fund’s potential to generate significant wealth, positioning the U.S. alongside countries like Saudi Arabia and China that have long operated similar funds.

Key Details:

  • Trump signed the order in the Oval Office, joined by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, calling the move “a very exciting event.”

  • The fund may be capitalized through tariff revenues, with Trump hinting that TikTok could be included as an asset, possibly as part of a deal tied to avoiding new 10% tariffs on Chinese goods.

  • Bessent and Lutnick will oversee the fund’s creation, aiming to “monetize the asset side of the U.S. balance sheet” within the next year.

Diving Deeper:

President Trump on Monday signed an executive order to establish the first sovereign wealth fund in U.S. history, signaling a bold new approach to managing national assets. Speaking from the Oval Office, Trump described the initiative as “a very exciting event” and highlighted its potential to generate vast wealth for the country.

“Other countries have sovereign wealth funds, and they’re much smaller than the United States,” Trump noted. “We’re going to have one of the biggest funds in the world in a short period of time. The Saudi Arabia fund is large, but we’ll catch up.”

While the exact source of the fund’s initial capital hasn’t been confirmed, Trump has previously suggested that tariff revenues could play a key role. This aligns with his recent announcement of a 10% tariff on Chinese imports, which he framed as part of his strategy to combat fentanyl trafficking. Trump also floated the idea of including a stake in TikTok within the fund, hinting that Beijing might divest from the platform to sidestep the new tariffs.

Treasury Secretary Scott Bessent outlined the administration’s vision, stating, “We are going to monetize the asset side of the U.S. balance sheet for the American people. We’ve studied best practices from around the world, and it will include a mix of liquid assets and domestic investments.”

Commerce Secretary Howard Lutnick added that the sheer scale of the U.S. government’s operations presents a unique opportunity to create value for American citizens. “If we’re buying billions of COVID vaccines, maybe we should hold equity in these companies to benefit the health and wealth of the American people,” he said.

Trump envisions the fund investing in infrastructure, manufacturing, medical research, and more. During his campaign, he suggested the fund could be supported through tariffs and “other intelligent things,” emphasizing that it will be a tool to strengthen America’s economic independence and global competitiveness.

With sovereign wealth funds in countries like China, Saudi Arabia, and Singapore boasting assets exceeding $1 trillion, Trump’s move represents a significant shift in U.S. fiscal strategy, positioning the nation to compete directly in this arena for the first time.

Business

Trump confirms 35% tariff on Canada, warns more could come

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President Trump on Thursday confirmed a sweeping new 35% tariff on Canadian imports starting August 1, citing Canada’s failure to curb fentanyl trafficking and retaliatory trade actions.

Key Details:

  • In a letter to Canadian Prime Minister Mark Carney, Trump said the new 35% levy is in response to Canada’s “financial retaliation” and its inability to stop fentanyl from reaching the U.S.
  • Trump emphasized that Canadian businesses that relocate manufacturing to the U.S. will be exempt and promised expedited approvals for such moves.
  • The administration has already notified 23 countries of impending tariffs following the expiration of a 90-day negotiation window under Trump’s “Liberation Day” trade policy.

Diving Deeper:

President Trump escalated his tariff strategy on Thursday, formally announcing a 35% duty on all Canadian imports effective August 1. The move follows what Trump described as a breakdown in trade cooperation and a failure by Canada to address its role in the U.S. fentanyl crisis.

“It is a Great Honor for me to send you this letter in that it demonstrates the strength and commitment of our Trading Relationship,” Trump wrote to Prime Minister Mark Carney. He added that the tariff response comes after Canada “financially retaliated” against the U.S. rather than working to resolve the flow of fentanyl across the northern border.

Trump’s letter made clear the tariff will apply broadly, separate from any existing sector-specific levies, and included a warning that “goods transshipped to evade this higher Tariff will be subject to that higher Tariff.” The president also hinted that further retaliation from Canada could push rates even higher.

However, Trump left the door open for possible revisions. “If Canada works with me to stop the flow of Fentanyl, we will, perhaps, consider an adjustment to this letter,” he said, adding that tariffs “may be modified, upward or downward, depending on our relationship.”

Canadian companies that move operations to the U.S. would be exempt, Trump said, noting his administration “will do everything possible to get approvals quickly, professionally, and routinely — In other words, in a matter of weeks.”

The U.S. traded over $762 billion in goods with Canada in 2024, with a trade deficit of $63.3 billion, a figure Trump called a “major threat” to both the economy and national security.

Speaking with NBC News on Thursday, Trump suggested even broader tariff hikes are coming, floating the idea of a 15% or 20% blanket rate on all imports. “We’re just going to say all of the remaining countries are going to pay,” he told Meet the Press moderator Kristen Welker, adding that “the tariffs have been very well-received” and noting that the stock market had hit new highs that day.

The Canadian announcement is part of a broader global tariff rollout. In recent days, Trump has notified at least 23 countries of new levies and revealed a separate 50% tariff on copper imports.

“Not everybody has to get a letter,” Trump said when asked if other leaders would be formally notified. “You know that. We’re just setting our tariffs.”

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Business

Trump slaps Brazil with tariffs over social media censorship

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From LifeSiteNews

By Dan Frieth

In his letter dated July 9, 2025, addressed to President Luiz Inácio Lula da Silva, Trump ties new U.S. trade measures directly to Brazilian censorship.

U.S. President Donald Trump has launched a fierce rebuke of Brazil’s moves to silence American-run social media platforms, particularly Rumble and X.

In his letter dated July 9, 2025, addressed to President Luiz Inácio Lula da Silva, Trump ties new U.S. trade measures directly to Brazilian censorship.

He calls attention to “SECRET and UNLAWFUL Censorship Orders to U.S. Social Media platforms,” pointing out that Brazil’s Supreme Court has been “threatening them with Millions of Dollars in Fines and Eviction from the Brazilian Social Media market.”

A formal letter dated July 9, 2025, from The White House addressed to His Excellency Luiz Inacio Lula da Silva, President of the Federative Republic of Brazil, discussing opposition to the trial of former President Jair Bolsonaro and announcing a 50% tariff on Brazilian products entering the United States due to alleged unfair trade practices and censorship issues, with a note on efforts to ease trade restrictions if Brazil changes certain policies.

A typed letter from Donald J. Trump, President of the United States of America, discussing tariffs related to Brazil, digital trade issues, and a Section 301 investigation, signed with his signature.

Trump warns that these actions are “due in part to Brazil’s insidious attacks on Free Elections, and the fundamental Free Speech Rights of Americans,” and states: “starting on August 1, 2025, we will charge Brazil a Tariff of 50% on any and all Brazilian products sent into the United States, separate from all Sectoral Tariffs.” He also adds that “Goods transshipped to evade this 50% Tariff will be subject to that higher Tariff.”

Brazil’s crackdown has targeted Rumble after it refused to comply with orders to block the account of Allan dos Santos, a Brazilian streamer living in the United States.

On February 21, 2025, Justice Alexandre de Moraes ordered Rumble’s suspension for non‑compliance, saying it failed “to comply with court orders.”

Earlier, from August to October 2024, Moraes had similarly ordered a nationwide block on X.

The court directed ISPs to suspend access and imposed fines after the platform refused to designate a legal representative and remove certain accounts.

Elon Musk responded: “Free speech is the bedrock of democracy and an unelected pseudo‑judge in Brazil is destroying it for political purposes.”

By linking censorship actions, particularly those targeting Rumble and X, to U.S. trade policy, Trump’s letter asserts that Brazil’s judiciary has moved into the arena of foreign policy and economic consequences.

The tariffs, he makes clear, are meant, at least in part, as a response to Brazil’s suppression of American free speech.

Trump’s decision to impose tariffs on Brazil for censoring American platforms may also serve as a clear signal to the European Union, which is advancing similar regulatory efforts under the guise of “disinformation” and “online safety.”

With the EU’s Digital Services Act and proposed “hate speech” legislation expanding government authority over content moderation, American companies face mounting pressure to comply with vague and sweeping takedown demands.

By framing censorship as a violation of U.S. free speech rights and linking it to trade consequences, Trump is effectively warning that any foreign attempt to suppress American voices or platforms could trigger similar economic retaliation.

Reprinted with permission from Reclaim The Net.

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