Trump asks Saudi Arabia to increase U.S. investment commitments to $1 trillion


U.S. President Donald Trump (left) talks with Saudi Arabia’s Crown Prince Mohammed bin Salman (centre), Japanese Prime Minister Shinzo Abe (right), Indian Prime Minister Narendra Modi (second from right) and the British Prime Minister Theresa May smiles in a family photo during the G20 Summit in Osaka on June 28, 2019. (Photo by KIM KYUNG-HOON/POOL/AFP) (Photo credit should read KIM KYUNG-HOON/AFP, Getty Images)

Kim Kyung-hoon | AFP | Getty Images

U.S. President Donald Trump on Thursday touted Saudi Arabia’s pledge to invest $600 billion in the United States over the next four years, while suggesting the figure should actually be higher.

“There are also reports in the newspapers today that Saudi Arabia will invest at least $600 billion in the United States,” Trump told the audience in Davos via video call, while referring to major announcements of foreign companies’ plans to invest in the country.

“But I would ask the crown prince, who is a great man, to round it up to about 1 trillion. I think they will do that because we have been very good to them,” he said, referring to Saudi Crown Prince Mohammed bin Salman Salman.

Saudi Arabia’s official Saudi Press Agency published details of a call between the crown prince and Trump on Thursday, in which the kingdom’s de facto leader congratulated the U.S. president on his inauguration and the two discussed bilateral relations.

According to a Google translation of the report, bin Salman told Trump that he expected the reforms planned by the incoming administration “to create unprecedented economic prosperity” and that “the kingdom seeks to benefit from existing cooperation and investment opportunities.” “.

The Saudi report said the crown prince said “Saudi Arabia hopes to expand investment and trade relations with the United States by $600 billion over the next four years, and this number is expected to increase if more opportunities arise.”

Saudi Arabia's economy minister says he looks forward to working with Trump administration

Days earlier, Trump said on Monday that his first overseas trip of his new term would likely be to Saudi Arabia, as he did when he first became president in 2017. But he said it comes at a cost.

According to the Associated Press, Trump told the media at the White House: “The first foreign trip is usually to the United Kingdom, but… I went with Saudi Arabia last time because they agreed to buy $450 billion worth of our products. “If Saudi Arabia wants to buy another $450 billion or $500 — and we’re going to raise the price because of inflation — I think I’d probably go for it.”

Trump and the Saudi crown prince have a notoriously cordial relationship, although that relationship frayed over the 2018 killing of Saudi journalist Jamal Khashoggi and Trump’s threats to OPEC to demand more Saudi mining. More oil to push down global crude oil prices.

After Trump was re-elected as president, foreign countries and companies made a series of investment commitments, including SoftBank’s Masayoshi Son pledges to invest US$100 billion US Artificial Intelligence and Dating Hub Project, and Planned United Arab Emirates real estate firm Damac invests $20 billion Invest in US data centers

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