President Trump goes to the Gulf kingdom this week seeking $1 trillion worth of investments in the United States — a sum equivalent to the entire Saudi gross domestic product for a year.The New York Times reports that President Trump is set to begin his visit to Saudi Arabia on Tuesday with a $1 trillion wish list for investments in the United States. This amount is equivalent to the entire gross domestic product of Saudi Arabia in 2016. However, economists say that neither this figure nor the $600 billion that the Saudi crown prince has pledged to invest during Trump’s presidency is realistic.
Despite facing a budget deficit and having to borrow money, Crown Prince Mohammed bin Salman has promised to invest $600 billion in the United States while Trump is in office. Trump has even asked the crown prince to increase this amount to $1 trillion and to lower the price of oil, which is the main source of Saudi Arabia’s wealth. Trump has stated that the US has been “very good” to Saudi Arabia.
Economists believe that while Saudi investments in the US may increase during Trump’s administration, they are unlikely to reach $1 trillion. The article concludes by encouraging readers to subscribe to The New York Times for full access to the content.
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