Trump's advisors have submitted a plan for the U.S. sovereign wealth fund, and the White House has raised objections to some of its contents.

On May 8, CBS News reported that President Trump’s top advisers had submitted to him a plan to create an investment fund run by the U.S. government, a request Trump made earlier this year — but the White House has disputed parts of the proposal. President Trump asked Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to jointly develop a proposal for a U.S. sovereign wealth fund, with the goal of submitting it in early May. Multiple sources said the proposal had already been submitted. However, the White House has expressed concern about the Treasury Department’s approach, according to one of the sources. The mechanism of operation of the fund is still being discussed, and there are no announced plans yet, another source said. “In accordance with President Trump’s executive order, the Treasury and Commerce departments have developed plans for a sovereign wealth fund, but no final decision has been made,” a White House spokesperson said in a statement. He added, “The administration remains committed to using all available tools to carry out President Trump’s directives and ensure the national and economic security of the United States.”