US Treasury Secretary Scott Bessent: US will now treat US allies’ wealth as American ‘sovereign wealth fund’

Arnaud Bertrand on X: What Bessent is saying is that the US will now treat US allies’ wealth as an American “sovereign wealth fund” (his words), “directing” them, “largely at the [US] president’s discretion”, how to use their money in order to build American factories and reshore American industries. Even the Fox News host can’t believe it, calling it “offshore appropriation”, another word for theft…

This is, without exaggerating, one of the most extraordinary things a US Treasury Secretary ever said.

It should be mandatory viewing for all citizens of US "allies", Europeans first and foremost.

What Bessent is saying is that the US will now treat US allies' wealth as an… pic.twitter.com/IdNFMW33P7
— Arnaud Bertrand (@RnaudBertrand) August 13, 2025

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US Treasury Secretary Scott Bessent: US will now treat US allies’ wealth as American ‘sovereign wealth fund’