The U.S. Treasury Secretary stated that the Trump administration has shelved the sovereign wealth fund plan and shifted its focus to repaying U.S. debt

U.S. Treasury Secretary Becerra stated that the Trump administration has suspended plans to establish a sovereign wealth fund and will instead focus on repaying national debt. Becerra pointed out that the government will utilize existing agencies to execute some of the originally planned functions and will propose relevant recommendations within 90 days. Despite concerns from the outside about the Republican tax reform bill potentially exacerbating the debt burden, Becerra believes that the bill will promote economic growth, help reduce the debt ratio, and predicts that U.S. GDP growth will exceed 3% next year