(NewsNation) — President Donald Trump and Crown Prince Mohammed bin Salman are expected to provide more details about Saudi investments in U.S. companies on Wednesday.
The president said the U.S. would be supplying Saudi Arabia with top military equipment, praising the alliance between himself and the crown prince and saying that the prince did not have good relationships with previous Democratic presidents.
Trump initially announced a $600 billion investment from Saudi Arabia during a bilateral meeting with the prince yesterday, saying he hoped that number would increase to $1 trillion.
The president said $270 billion in deals with companies are being signed Wednesday.
Trump said he was allowing AI companies to build their own electric plants for the power necessary for AI to work.
In his opening remarks, Trump also attacked the Federal Reserve, criticizing renovations to the building and saying the job is “easy” and based on instinct. He has attacked Chair Jerome Powell for failing to lower interest rates as much as he would like. He also attacked those who advocate for taking action to prevent climate change, which the president says is not real.
He then spoke about the need for visas to bring people in who can teach U.S. workers to make computer chips and other technology.
“They’re going to have to bring thousands of people with them, and I’m going to welcome those people. You know, I love my conservative friends, I love MAGA but this is MAGA and those people are going to teach our people,” he said. “his is something they’ve never done and we’re not going to be successful if we don’t allow people that invest billions of dollars in plant and equipment to bring a lot of their people from their country, to get that plant open, [and teaching] how to make computer chips and in a short period of time.”
The president then returned to his claims that the 2020 election was stolen, despite there being no evidence of widespread voter fraud, and called Democrats incompetent. He also praised energy from coal and attacked windmills, which he has repeatedly said lose money.
Prince Mohammed verbally agreed to a $1 trillion investment during that meeting, emphasizing an investment in artificial technology and technology infrastructure.
Trump has embraced the prince and Saudi Arabia, despite allegations of human rights abuses and that the country supported the Sept. 11 terror attacks, as well as the killing of Washington Post journalist Jamal Khashoggi by Saudi agents.
During Tuesday’s meeting, Trump said Prince Mohammed “knew nothing” about Khashoggi’s death, undermining findings from U.S. intelligence, which determined the prince was likely the one who ordered Khashoggi’s killing.
Trump also lashed out at reporters who asked questions about the incident and allegations of human rights violations in Saudi Arabia, chastising them for “embarrassing our guest.”
Following private meetings with Prince Mohammed, Trump also designated Saudi Arabia as a major non-NATO ally.