Trump: US fund may buy Tik Tok

President Donald Trump said Monday that TikTok could be purchased by a newly proposed US sovereign wealth fund.

Trump said TikTok could be "put into" a potential sovereign wealth fund to preserve access to the app.

"Other countries have sovereign wealth funds," Trump said, as he signed an executive order directing US officials to create such a fund in the United States, modeled after sovereign wealth funds in countries like Norway and Saudi Arabia, which direct their national budgets into financial assets like stocks, bonds and real estate.

The suggestion comes as TikTok is under pressure to find a new owner by April, after Trump signed a 75-day extension of the law requiring the app to be sold by its China-based parent company ByteDance or be banned in the United States.

Trump has pledged to help broker a deal to ensure the app remains accessible to its 170 million US users. He previously said the United States could take a 50% stake in a deal with the current owners./ CNA

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