President Donald Trump urged the kingdom Thursday to boost its U.S. investment, saying he would encourage the Saudis to round out their promised $600 billion to almost $1 trillion, one day after he spoke with Saudi Crown Prince Mohammed bin Salman.
In virtual remarks to corporate and international executives at the World Economic Forum in Davos, Switzerland, Trump stated, “I think they’ll do that because we’ve been very good to them.” According to a Saudi government readout, the crown prince, the de facto head of the country, promised Trump he will invest at least $600 billion in the United States over the next four years during the call on Wednesday, which was Trump’s first with a foreign leader since his inauguration on Monday.
Speaking to an audience in Davos on Thursday, Trump also promised to pressure OPEC and Saudi Arabia to lower the price of oil.
He stated, “You have to take it down, which I’m surprised they didn’t do before the election.” Their failure to do so did not demonstrate a great deal of affection. That startled me a little.
Following Trump’s comments, U.S. stocks surged as crude oil prices plummeted.
Trump outlined his goal in a jovial speech, which included everything from Middle East peace to a new government policy declaring that there are only two genders—male and female—and a summary of the activities he has done to retake much of Joe Biden’s presidency.
Trump declared, “We have really been working four days and we have accomplished more in four days than other administrations have in four years.” And we have only just begun.
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He also didn’t hesitate to confront his interlocutors head-on.
Following a query from Brian Moynihan, CEO of Bank of America, Trump accused banks, notably Bank of America, of turning conservatives away from banking services. Additionally, he cautioned the business and international executives in front of him that, if they choose not to manufacture their goods in America, which is their right, they will be required to pay a tariff.
In a statement, Bank of America refuted Trump’s assertions, stating that it has no political litmus test and welcomes conservatives.
“We have never and would never close an account for political reasons,” stated JPMorgan Chase.
Trump’s return to Washington has been filled with pledges to support American business, raise trade tariffs, and spur a multibillion-dollar increase in investments in the American economy.
He has threatened the European Union and other nations, such as Canada and Mexico, with hefty penalties that could begin as early as February 1. Additionally, he has taken swift action to increase domestic energy production, begin a crackdown on immigration, and remove the United States from the World Health Organization and the Paris Climate Agreement.
Trump gave his first significant speech to corporate and international leaders since taking office during the virtual address and the question period that followed. Even though he implemented policies in his first days in office that reflected his nationalist inclinations, Trump was welcomed by the organizers and CEOs onstage, despite the fact that his supporters have long mocked the international elites at Davos as trying to thwart his agenda.
Trump later discussed his views on the U.S.-China relationship and stated that he wants Chinese President Xi Jinping to assist him in putting an end to the conflict in Ukraine, where he claims that millions of troops have lost their lives on a battlefield. He claimed that Russian President Vladimir Putin is still a holdout and stated that Kyiv is prepared to negotiate. When asked if a peace deal might be reached by this time next year, Trump responded, “You are going to have to ask Russia.”
Trump declared in September that he will put an end to the nearly three-year-old conflict in Ukraine on the first day of his presidency, if not sooner. However, a peace agreement seems unlikely this week, and Trump warned on Wednesday that if the war doesn’t stop quickly, he would put tariffs and sanctions on Russia and its allies.
“We can choose to do it the easy way or the hard way, and the easy way is always better,” he stated on Truth Social. “It s time to ‘MAKE A DEAL.'”
When questioned in Davos over a phone conversation he had with Xi the previous week, Trump stressed that it wasn’t him contacting Xi. Trump remarked, “Xi called me,” indicating his perception of a crucial connection that has been hampered by trade negotiations and the Chinese-caused Covid epidemic.