Trump Urges Saudis to Invest more in the USA
One day after speaking with Saudi Crown Prince Mohammed bin Salman, US President Donald Trump called for the kingdom to raise its promised US investment from $600 billion to $1 trillion. During his remarks at the World Economic Forum in Davos, Switzerland, Trump highlighted the strong US-Saudi relationship, stating, “I think they’ll do that because we’ve been very good to them.”
As noted by a readout from the Saudi government of their call, Crown Prince Mohammed bin Salman promised to invest $600 billion in the United States within the next four years. Trump also pleaded with Saudi Arabia and OPEC to lower oil prices, stating that he is “shocked” they hadn’t yet done so before the election. His pleas set off a slump in crude oil prices and a bounce in the US stock markets.
Aggressive Policy Agenda on Show
In his first major speech to world leaders since assuming the presidency, Trump bragged that his administration is moving at light speed in executing its policy, including pulling out of the Paris Climate Change Agreement and the World Health Organization, increasing production of domestic energy, and increasing tariffs on imports from other nations. He challenged business leaders, saying, “If you don’t make your product in America, you will have to pay a tariff.
Trump also accused US financial institutions, including Bank of America and JPMorgan Chase, of denying services to conservatives, a claim the banks strongly denied.
Focus on US-China Relations and Ukraine War
Touching on foreign affairs, Trump urged Chinese President Xi Jinping to assist in ending the war in Ukraine, claiming Kyiv was ready to make a deal. Trump criticized Russia’s lack of commitment to peace and threatened sanctions if the war continues.
Despite his nationalist policies, Trump was greeted warmly at Davos, and organizers and executives widely praised his direct approach. He ended by again promising to do everything possible to boost investment in the United States, promote trade negotiations, and put America first in industry.
