On February 1, 2025, the President imposed tariffs on Canadian goods due to concerns about drug and human trafficking.

This order pauses those tariffs until March 4, 2025, to assess Canada's response to the crisis.

The pause allows for further evaluation of Canada's actions to mitigate the issues affecting the US border, and the tariffs will be reinstated if the situation worsens or insufficient action is taken.

This presidential order establishes a policy to maximize the stewardship of national wealth for American citizens by creating a sovereign wealth fund.

The Secretaries of the Treasury and Commerce, in coordination with the Assistant to the President for Economic Policy, must develop a plan for the fund's establishment within 90 days.

This plan should include funding, investment strategies, structure, governance, and legal considerations.

The order clarifies that it does not create any new legal rights or benefits and is subject to available appropriations.