Saudi’s $1 trillion investment pledge lures Donald Trump
Business & Economy, Trump had demanded Saudi Arabia increase its investment pledge to $1 trillion from the initial $600 billion reported in January.
It's Donald Trump vs the world! The US president has caused major ripples across global trade supply chains. While other countries are scrambling to secure a deal with Trump without the tariffs threat, Saudi Arabia seems to be an important wheel in Trump's cycle of strategic alliances.
Trump had demanded Saudi Arabia increase its investment pledge to $1 trillion from the initial $600 billion reported in January. He also called for Saudi Arabia and OPEC to bring down oil prices. This followed Trump's conversation with Saudi Arabia's Crown Prince Mohammed bin Salman, where discussions centred around the kingdom's 'international economic ambitions' and trade issues.
A month later, Trump announced plans to travel to Saudi Arabia on his first trip abroad to seal the deal! According to sources, Trump said he would probably travel there in the next month and a half. He also noted the cordial relations, highlighting the investments pledged during his first term in 2017.
'This time, they've gotten richer, we've all gotten older,' said Trump as he expressed confidence in Saudi's $1 trillion investment over 4 years in American companies, including purchases of US military equipment.
'And they've agreed to do that, so I'm going to be going there, and I have a great relation with them, and they've been very nice,' Trump said.