President Donald Trump signed an executive order on Monday to create a U.S. sovereign wealth fund and instructed that it may very well be used to buy TikTok. The fund is predicted to be created within the subsequent 12 months by the U.S. Treasury and Commerce Departments, although it’s not instantly clear how. Trump has mentioned beforehand it may very well be funded by “tariffs and different clever issues,” per Reuters.

Trump signed an executive order final month to delay the TikTok ban deadline by 75 days. Whereas the app is on-line after going darkish for round 12 hours, it’s nonetheless lacking from app shops.

Trump has mentioned he has been in talks with a number of people who find themselves concerned with buying the social community. Final week, he mentioned Microsoft was in talks to purchase TikTok, and beforehand mentioned he could be open to Tesla CEO Elon Musk or Oracle chairman Larry Ellison shopping for TikTok.

He has mentioned he’ll seemingly have a call concerning the app’s future within the U.S. in February.