Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Information Minister in Pakistani-administered Kashmir: Five civilians killed and at least 29 others injured in shelling across the border with India
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: So he [Trump] decided to cut off contact. That might still change, but that’s the situation right now
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: Trump’s circle told him [Dermer] that Netanyahu was manipulating him, and there’s nothing Trump hates more than being portrayed as someone being played
Senior Palestinian official to Al Mayadeen: Meetings between the Israelis, Egyptians, and Qataris are all centered around the Israeli proposal, which does not guarantee an end to the war [on Gaza]
Senior Palestinian official to Al Mayadeen: “Israel” is threatening to expand the ground offensive if Hamas rejects the proposal
Senior Palestinian official to Al Mayadeen: Hamas rejects the Israeli proposal, viewing it as failing to guarantee an end to the war
Senior Palestinian official to Al Mayadeen: “Israel” is sticking to its proposal, and insists there is no alternative offer on the table for negotiation
Senior Palestinian official to Al Mayadeen: The meetings between the Israelis and the Egyptians and Qataris all revolve around the Israeli proposal
The administration was clearly looking for an off-ramp for this campaign against Ansar Allah, NBC News reports, citing US official
Trump's operation against Ansar Allah cost more than $1 billion, NBC News reports, citing US official

US planning unorthodox sovereign fund to counter rivals: FT

  • By Al Mayadeen English
  • Source: Financial Times
  • 7 Sep 2024 16:32
3 Min Read

The US has had a history of labeling economic policies as "unfair competition" and later adopting them to protect its economic position.

Listen
  • x
  • US planning a unorthodox sovereign fund to counter rivals: FT
    White House National Security Advisor Jake Sullivan speaks during a press conference at the end of his visit at the US embassy in Beijing, on August 29, 2024. (AP)

The White House is studying a plan to set up a United States sovereign wealth fund, an idea which has also received the support of former President Donald Trump, according to the Financial Times. 

A report explained that senior members of the Biden administration, including National Security Advisor, Jake Sullivan, and top aide on international economics, Daleep Singh, had been working on the plans for months. 

Such a move would mark a new era of US financial policies, as the establishment of a sovereign fund largely goes against supposed American values. Sovereign funds around the world have been criticized for "unfair economic competition," however, now Washington feels that such a government-owned structure could aid it against its rivals. 

The push for a sovereign fund was "serious enough" that the idea garnered the involvement of other government agencies, who planned to promote the idea with Congress and key stakeholders in the private sector. 

A White House official revealed that the initiative stems from a belief that the US "lacks a pool of patient and flexible capital" to be deployed both domestically and internationally in ways that would advance strategic interests. The official emphasized the need for such capital to operate at the required space and scale for the US to maintain an edge in a competitive geopolitical landscape.

Related News

Trump, Netanyahu aide held meeting before MidEast trip: Axios

US won't meddle in India-Pakistan conflict: JD Vance

Read more: Musk to lead US efficiency commission if Trump re-elected

Discussions within the White House, initially reported by Bloomberg News, have been ongoing for months. However, the concept of establishing a US sovereign wealth fund gained political momentum this week when former President Donald Trump, currently seeking a second term, endorsed it during a speech at the Economic Club of New York.

"We could invest in state-of-the-art manufacturing hubs, advanced defense technologies, cutting-edge medical research, and potentially save billions by preventing diseases," Trump told the audience.

American industries have suffered from sovereign fund investments in several key sectors, including green energy-related products. Electric Vehicles in particular and Chinese subsidies for companies have allowed the country to dominate the EV market. 

Now, the US is struggling to gain a foothold in the market and issued tariffs on Chinese products, reaching 100% in the case of Chinese EVs.

Read more: US tariff hike on China may destabilize global economy: Jeffrey Sachs

  • United States
  • Kamala Harris
  • Washington
  • US Treasury
  • China
  • Jake Sullivan
  • Joe Biden
  • Donald Trump
  • white house

Most Read

Pro-Palestinian protesters march toward the US Immigration and Customs Enforcement (ICE) headquarters, Saturday, April 5, 2025, in Washington (AP)

US House to vote on bill criminalizing boycott of 'Israel'

  • Politics
  • 3 May 2025
Throughout Operation Prosperity Guardian, current and former US military and intelligence officials expressed disquiet at the enormous “cost offset” involved in battling Ansar Allah. (Al Mayadeen English; Illustrated by Zeinab El-Hajj)

Ansar Allah triumphant: US facing Red Sea defeat again

  • Opinion
  • 3 May 2025
Pakistan downs an Indian jet and hits a military base in Kashmir escalation.

Pakistan downs 3 Indian jets, hits military base in Kashmir escalation

  • Politics
  • 7 May 2025
Trump cut off contact with Netanyahu, senior Israeli official says

Trump cut off contact with Netanyahu: Israeli media

  • US & Canada
  • Today

Coverage

All
Gaza prevails against genocide

Read Next

All
UN experts warn: Stop the genocide or witness Gaza's end
Politics

Stop the genocide or witness end of life in Gaza: UN experts warn

Israeli police attack mourners as they carry the casket of killed Al Jazeera veteran journalist Shireen Abu Akleh during her funeral in occupied al-Quds, Friday, May 13, 2022. (AP)
Politics

Israeli sniper who killed journalist Shireen Abu Akleh identified

The Department of Defense logo is seen on the wall in the Press Briefing room at the Pentagon, Oct. 29, 2024, in Washington. (AP)
Politics

Pentagon’s unused properties drain billions in taxpayer funds

Haaretz
Palestine

Israeli military avoids calling up unwilling reservists: Haaretz

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS