U.S. President Donald Trump revealed that he plans to ask Saudi Arabia for $1 trillion in investments, rather than the $600 billion the kingdom had previously committed to investing in the United States.
Speaking during the Davos Economic Forum via video conference, Trump stated, “Saudi Arabia will invest $600 billion in America, and I will ask the Saudi king to raise the amount to $1 trillion. I will also ask him to lower oil prices.”
Trump further elaborated, “I will ask the Crown Prince—a wonderful man—to increase it to around $1 trillion. I think they will do it because we’ve been very good to them.”
In addition to the investment increase, Trump urged Saudi Arabia to reduce oil prices, suggesting this could help end the war in Ukraine.
He remarked, “If prices drop, Russia’s war on Ukraine will end immediately. Prices are currently high enough to sustain the war, and they need to come down. They should have done this a long time ago. In fact, to some extent, they are responsible for what is happening.”
Saudi Investments and U.S. Relations
Crown Prince Mohammed bin Salman previously expressed a desire to invest $600 billion in the U.S. over the next four years, according to a phone call with Trump earlier in the week. The White House confirmed that the discussion between Trump and the Saudi Crown Prince covered efforts to stabilize the Middle East, enhance regional security, and combat terrorism.
A statement from the White House added, “Trump and the Saudi Crown Prince discussed the kingdom’s international economic ambitions over the next four years, trade, and other opportunities.”
Trump on Achievements and the Gaza Ceasefire
In his speech, Trump took the opportunity to criticize the Biden administration, claiming his administration accomplished more in four days than Biden’s has in four years.
Trump emphasized, “Without my administration, the Gaza ceasefire agreement this week would not have been reached.”
