Trump says he will make wide-ranging speech at Davos asking Saudi Arabia to invest $1 trillion in U.S.

A day after speaking with Saudi Crown Prince Mohammed bin Salman, President Donald Trump urged the kingdom to increase investment in the United States, saying he would ask the kingdom to "replenish" its pledged $600 billion to about $1 trillion. .

"I think they're going to do it because we've been very good to them," Trump said in a virtual address to business and foreign leaders from the World Economic Forum in Davos, Switzerland. In Wednesday's call, Trump's first with a foreign leader since taking office on Monday, the kingdom's de facto leader told Trump he would invest at least 100 percent in the United States over the next four years, according to the Saudi government. $600 trillion.

Speaking to a crowd in Davos on Thursday, Trump also said he would push Saudi Arabia and OPEC to lower oil prices.

"You have to push it down, and frankly I'm surprised they didn't do that before the election," he said. "They're not showing a lot of love by not doing that. I'm a little surprised by that."

Crude oil prices fell after Trump's comments, while U.S. stocks rose.

In a lively speech, Trump laid out a series of actions he has taken to undo much of Joe Biden's presidency and roll out his own agenda, covering everything from Middle East peace to a new official policy Content, the policy alleges "there are only two genders, male and female."

"We've accomplished more in four days - we've actually been working for four days - than any other administration has accomplished in four years," Trump said. "And we've only just begun."

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He does not shy away from putting direct pressure on his interlocutors.

Trump accused financial institutions, including Bank of America, of denying banking services to conservatives after questions from Bank of America CEO Brian Moynihan. He also warned business and foreign leaders before him that "if you don't make a product in the United States, which is your prerogative, then quite simply, you're going to have to pay tariffs."

Bank of America pushed back on Trump's claims in a statement, saying "we welcome conservatives without political litmus tests."

"We have never and will never close accounts for political reasons, period," JPMorgan Chase said.

Trump has so far promised on his return to Washington to fuel a multi-billion dollar investment surge in the U.S. economy, shore up U.S. industry and raise new tariffs in trade talks.

The president has threatened to impose steep tariffs on foreign countries, including Canada and Mexico, saying they could begin as early as February 1, while also threatening the European Union. He also moved to rapidly expand domestic energy production, began a crackdown on immigration, and withdrew the United States from the Paris Climate Agreement and the World Health Organization.

The virtual speech and subsequent question and answer session were Trump's first major speeches to foreign and business leaders since taking office. Trump's allies have long derided Davos's global elite for working to undermine Trump's agenda, but the president received a warm welcome from the organizers and executives gathered on stage despite his first day in office. The policies he introduced reflected his nationalist tendencies.

Trump later explained how he viewed U.S.-China relations and said he hoped Chinese President Xi Jinping would help him end the war in Ukraine, where he said too many millions of soldiers had died in a "killing field." He said Kyiv was "ready for a deal" and suggested President Vladimir Putin was still insisting on a boycott. Asked whether a peace deal could be reached by this time next year, Trump said: "You have to ask Russia."

Trump said in September that if re-elected, he would end the nearly three-year war in Ukraine on his first day as president, or possibly before. But a peace deal appeared distant this week, with Trump threatening on Wednesday to impose sanctions and tariffs on Russia and its allies if the war did not end soon.

“We can do it the easy way or the hard way — and the easy way is always better,” he said. "It's time to 'make a deal.'"

Asked in Davos about his call with Xi Jinping last week, Trump clarified that it was not his contact with the Chinese leader. Trump said Xi Jinping "called me," nodding to express how he viewed the key relationship complicated by trade talks and the coronavirus pandemic that originated in China.