LIVE: President Trump holds bilateral meeting with crown prince of Saudi Arabia

Key Concepts

• Economic Investment and Job Creation: Focus on significant investment in the US, particularly from Saudi Arabia, leading to job growth and industrial expansion.
• Tariffs and Trade Policy: The use of tariffs as a tool to generate revenue and encourage domestic investment.
• Inflation and Energy Prices: Addressing inherited inflation and high gas prices, with efforts to lower them and rebuild strategic reserves.
• Geopolitical Relations: Discussions on US-Saudi Arabia relations, including defense treaties, Abraham Accords, and regional peace.
• Technological Advancement: Emphasis on AI development and investment, with the US aiming to lead in this sector.
• Foreign Policy and Conflict Resolution: The role of the US in mediating conflicts and lifting sanctions on certain countries.
• Presidential Leadership and Transparency: The president's approach to diplomacy, decision-making, and public engagement.
• Media and Reporting: Criticism of certain media outlets and their reporting practices.
• Infrastructure Development: Plans for significant renovations and construction projects at the White House.

Summary of Discussion with Saudi Crown Prince

This transcript details a meeting and subsequent press conference involving the President and the Crown Prince of Saudi Arabia, focusing on economic cooperation, geopolitical alliances, and national security.

Economic Investment and Job Creation

The President highlighted a dramatic increase in investment in the United States, stating that under his administration, the country is projected to see $21 trillion invested or committed within one year, a stark contrast to less than $1 trillion over four years by the "Biden lack of administration." He emphasized that this surge in investment is unprecedented, with the previous historical high being $3 trillion. This investment is expected to translate into new plants, including AI and auto manufacturing facilities, with companies from Canada, Mexico, Germany, and Japan investing. Toyota's commitment to invest $10 billion in new auto plants was specifically mentioned.

The Crown Prince announced an increase in Saudi Arabia's investment in the United States from an initial $600 billion to nearly $1 trillion, emphasizing that this represents "real investment and real opportunity" in various sectors like technology and AI. This investment is expected to create "a lot of jobs" and contribute to long-term economic growth in America.

GE Vernova's facility leader, David Romel, provided a specific example, detailing over $750 million in US investment focused on manufacturing jobs, including tripling output at their Greenville, South Carolina facility for gas turbines. This investment is projected to create approximately 1,800 jobs.

Tariffs and Trade Policy

The President attributed the influx of investment and revenue to the strategic use of tariffs. He stated, "we use tariffs to bring all this money in," and predicted that the results would be visible as new plants begin to open.

Inflation and Energy Prices

The administration inherited "the worst inflation in the history of our country" and high gas prices. The President criticized the previous administration for depleting the petroleum reserve, intended for emergencies, to influence election outcomes. He noted that this action only resulted in a minimal decrease in gas prices. His administration is actively rebuilding the reserves and has already seen a substantial decrease in gasoline prices, with expectations of reaching $2 per gallon, down from $4.50 to $6.

Geopolitical Relations and Security

US-Saudi Arabia Defense Treaty and Abraham Accords: Scott, a participant, inquired about a US-Saudi defense treaty and the Abraham Accords. The President indicated a positive response and confirmed discussions on the Abraham Accords, including considerations for one-state and two-state solutions. The Crown Prince expressed belief in a good relationship with Eastern countries and a desire to be part of the Abraham Accords, contingent on a clear path to a two-state solution. He stated that discussions with the President would focus on preparing for the right situation to achieve this.

F-35 Jets and Military Equipment: A question arose regarding the sale of F-35 jets to Saudi Arabia and its impact on Israel's qualitative military edge. The President suggested the jets would be "pretty similar" and emphasized that both Israel and Saudi Arabia are "great allies" deserving of top-tier equipment. He confirmed that Saudi Arabia would purchase F-35s, stating, "we're going to sell them F-35s." He also highlighted the superiority of US military equipment, citing its effectiveness during the Iran incident.

Iran and Nuclear Capacity: The President claimed credit for "wiping out the nuclear capacity of Iran," stating that no other president would have taken the necessary action. He recounted a story of pilots practicing an attack on Iran for 22 years without presidential authorization until he gave the "go-ahead."

Syria and Sanctions: The President revealed that he lifted sanctions on Syria at the request of the Crown Prince of Saudi Arabia and President Erdogan of Turkey, who both believed it was necessary for Syria's recovery. He noted that Syria has made "tremendous progress" since the sanctions were lifted.

Gaza Reconstruction and Palestinian Sovereignty: Discussions touched upon Saudi Arabia's potential contribution to Gaza reconstruction, with the Crown Prince stating that discussions are ongoing and an amount has not yet been named, but Saudi Arabia will "definitely help." Regarding the US role in an international security force for Gaza, the President stated that they would "get along great with the Palestinians" and that the recent successful operation was "on behalf of everybody." He also mentioned that Israel buys its military equipment from the US.

Technological Advancement (AI)

The Crown Prince highlighted Saudi Arabia's significant demand for computing power and AI to address a potential future lack of workforce and ensure GDP growth. He stated that Saudi Arabia plans to spend around $50 billion in the short term on consuming semiconductors and hundreds of billions in the long term, seeking to link this demand to American private sectors. The President asserted that the US is "beating China substantially at AI" and that the relationship with China regarding farm products is "pretty much on schedule."

Media and Reporting

The President strongly criticized ABC News and a reporter for their questioning style and perceived bias, calling ABC a "crappy company" and "fake news." He accused the reporter of asking "horrible, insubordinate and just a terrible question" and suggested the reporter needed to "learn how to be a reporter." He also defended his administration's actions and policies, contrasting them with what he described as negative and inaccurate reporting.

Presidential Leadership and Transparency

The President emphasized the transparency of his administration, stating, "there's never been transparency like this." He highlighted the open nature of the press conference, where questions were taken from various media outlets. He also spoke about his personal approach to leadership, stating that he and the Crown Prince "don't sleep much" because they are focused on their countries and making them great.

Infrastructure Development

The President announced plans to build a new, large ballroom at the White House, noting that it has been desired for 150 years. He stated that the project is being funded by private money, not federal funds, and that a dinner honoring the Crown Prince would have been larger if the ballroom were complete.

Federal Reserve Chair Interviews

The President confirmed he has interviewed candidates for the Federal Reserve Chair position and believes he knows his choice, though he indicated the preferred candidate might prefer the Treasury. He expressed dissatisfaction with the current Fed Chair's performance, particularly regarding housing and interest rates.

Venezuela and Border Security

The President stated he is open to talking with Venezuelan President Maduro, who he claims wants to talk. He reiterated his administration's focus on strong borders and preventing illegal immigration, contrasting it with the "very weak orders" of the previous administration.

Epstein Files

The President dismissed questions about the Epstein files as a "Democrat hoax" intended to distract from his economic achievements. He denied any personal involvement with Epstein, stating he had expelled him from his club years prior. He pointed to individuals like Bill Clinton and Larry Summers as having closer ties to Epstein.

Middle East Peace and Two-State Solution

The President reiterated his commitment to peace in the region and expressed optimism about achieving a two-state solution, stating, "We want peace for the Israelis. We want peace for the Palestinians. We want them to coexist peacefully in the region."

Conclusion

The meeting and press conference underscored a strong and deepening strategic partnership between the United States and Saudi Arabia, driven by significant economic investment, shared security interests, and a commitment to regional stability and technological advancement. The President highlighted his administration's economic successes, including job creation and investment, while the Crown Prince affirmed Saudi Arabia's commitment to a long-term partnership with the US. The discussions also touched upon complex geopolitical issues, including the Abraham Accords, the conflict in the Middle East, and the role of the US in global security.