Trump urges Saudi Arabia to boost U.S. investment to $1 trillion

The US president also said he would push the Saudis and OPEC to bring down the price of oil

A day after speaking with Saudi Crown Prince Mohammed bin Salman, former President Donald Trump urged Saudi Arabia on Thursday to increase its investment in the United States. Trump suggested the kingdom should «round out» its previously pledged $600 billion investment to «around $1 trillion.»

«I think they’ll do that because we’ve been very good to them,» Trump said during virtual remarks at the World Economic Forum in Davos, Switzerland, addressing business and foreign leaders.

According to a statement from the Saudi government, the crown prince—Saudi Arabia’s de facto leader—told Trump during their conversation on Wednesday, his first call with a foreign leader since being inaugurated on Monday, that the kingdom planned to invest at least $600 billion in the U.S. over the next four years.

In his address at Davos on Thursday, Trump also stated his intention to push Saudi Arabia and OPEC to reduce oil prices.

«You’ve got to bring it down,» Trump said. «Frankly, I’m surprised they didn’t do it before the election. That didn’t show a lot of love—not doing it. I was a little surprised by that.»

Following Trump’s comments, crude oil prices dropped while U.S. stocks surged.

In his wide-ranging speech, Trump highlighted the swift actions his administration had taken in its initial days, from reshaping Middle East policy to introducing new social policies, including an official stance declaring that «there are only two genders, male and female.»

«We’ve accomplished more in four days—yes, just four days—than other administrations have achieved in four years,» Trump said. «And we’re just getting started.»