Trump signed an executive order to create a US sovereign wealth fund, suggesting it could be used to buy TikTok.

Mr Trump noted many other nations have such investment funds and predicted that the US could eventually top Saudi Arabia’s fund size.

The president has kickstarted the creation of a national fund, which he says could buy the social media platform.

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US President Trump signed an executive order on Monday to create a sovereign wealth fund, with the potential to buy TikTok.