Trump Urges Saudi Arabia to Boost US Investment to $1 Trillion

By Staff, Agencies

President Donald Trump has urged Saudi Arabia to increase its planned investment in the United States from $600 billion to $1 trillion, tying the move to the kingdom's "international economic ambitions".

Speaking via video at the World Economic Forum in Davos, Switzerland, Trump stated that while Saudi Arabia’s current proposal was significant, it fell short of what he envisioned.

"I'll be asking the Crown Prince, who's a fantastic guy, to round it out to around $1 trillion," Trump said. "I think they'll do that because we've been very good to them."

Saudi Arabia’s Crown Prince Mohammed bin Salman [MBS] had earlier informed Trump of the kingdom’s intention to invest $600 billion in the US economy over the next four years, according to the state-run Saudi Press Agency [SPA].

The White House confirmed the discussion, adding that the two leaders explored ways to enhance mutual prosperity.

During his address, Trump also pressed Saudi Arabia and OPEC nations to lower oil prices, asserting that this could lead to an immediate end to the conflict in Ukraine.

"If the price came down, the Russia-Ukraine war would end immediately. Right now, the price is high enough that that war will continue," he said. He also called for global interest rates to follow suit, demanding a reduction.

Saudi Arabia’s economic ambitions include mega-projects like Neom, aimed at diversifying the kingdom’s economy away from oil dependence.

The International Monetary Fund [IMF] estimates Saudi Arabia needs oil prices at $96 per barrel to balance its budget, significantly lower than current levels.

Riyadh has capitalized on sanctions against Russian crude by exporting over $30 billion worth of oil monthly since February 2022.

These revenues have bolstered the kingdom’s efforts to revamp its infrastructure and modernize its economy, long dominated by ultraconservative traditions.

The years-long Saudi-led military campaign against Yemen, which has claimed approximately 150,000 lives, continues to strain the kingdom’s finances.

Meanwhile, Saudi Arabia’s geopolitical strategy remains closely tied to its economic ties with the US and its regional alignment, including collaboration with "Israel" and countering perceived threats in the region.