Assistance from Claude AI.
Summary
In a sweeping 41-minute Oval Office meeting on November 18, 2025, President Donald Trump and Saudi Crown Prince Mohammed bin Salman announced a dramatic expansion of Saudi investment in the United States from $600 billion to nearly $1 trillion, confirmed plans for F-35 fighter jet sales to Saudi Arabia, and revealed they have “pretty much” reached a US-Saudi defense agreement. The Crown Prince expressed willingness to join the Abraham Accords contingent on a “clear path” to a two-state solution for Israel and Palestine, while Trump confirmed ongoing negotiations with Iran on a potential nuclear deal and defended his administration’s strikes that he claimed destroyed Iran’s nuclear capabilities. The meeting also featured tense exchanges with reporters over the Khashoggi murder, 9/11, Trump family business dealings in Saudi Arabia, and the Epstein files, with Trump calling an ABC News reporter “terrible” and suggesting the network’s broadcast license should be revoked. Trump also revealed he has already identified his choice for Federal Reserve chair to replace Jerome Powell, whom he called “a fool” and “a stupid man.”
Meeting Participants
United States:
- Donald Trump – President of the United States
- Marco Rubio – Secretary of State
- Scott Bessent – Secretary of the Treasury
- Susie Wiles – White House Chief of Staff
Saudi Arabia:
- Mohammed bin Salman Al Saud – Crown Prince of Saudi Arabia
Business Representatives:
- David Bromell – Facility Leader, GE Vernova
Press: Reporters from ABC News, Saudi media outlets, Palestinian media, and others were present for questions.
Saudi Investment Expansion: From $600 Billion to $1 Trillion
The headline announcement of the meeting came when Crown Prince Mohammed bin Salman revealed that Saudi Arabia would increase its planned investment in the United States from the previously announced $600 billion to nearly $1 trillion. This announcement appeared to surprise even President Trump, who had opened the meeting hoping to negotiate the figure upward.
Trump began the meeting noting the initial $600 billion commitment: “I want to thank you because you’ve agreed to invest $600 billion into the United States. And because he’s my friend, he might make it $1 trillion but I’m going to have to work on him.”
The Crown Prince then made the unexpected announcement: “Today and tomorrow we’re going to announce that we are going to increase that, that $600 billion to almost $1 trillion of investment, real investment and real opportunity by details in many areas. And the agreement that we are signing today in many areas, in technology, in AI, in materials, magnet, etc.”
Trump reacted with evident pleasure: “So you are doing that now? You’re saying to me now that the $600 billion will be $1 trillion?” When MBS confirmed, Trump responded: “Good. I like that very much.”
The Crown Prince framed the investment as driven by economic opportunity rather than diplomatic gesture: “We’re not creating opportunities to, you know, please America, please Trump. It’s real opportunities.” He specifically cited AI and semiconductor needs, stating Saudi Arabia plans to spend “around $50 billion” in the short term on computing power and semiconductors from America, with “hundreds of billion dollars in the long term.”
Trump repeatedly emphasized that such investment creates “national security” for the United States. “When you invest a trillion, that’s national security for us too because it creates jobs,” he said, later adding to Treasury Secretary Scott Bessent: “When you hear one country is putting a trillion into the United States that creates national security.”
Context for General Readers
Foreign direct investment at this scale would be historically unprecedented. For perspective, Trump claimed in the meeting that the previous record for foreign investment commitments was $3 trillion, and that the Biden administration secured “less than $1 trillion for four years.” Trump’s claim of $21 trillion in total investment commitments to the US during his first nine months in office would require independent verification. Investment “commitments” often differ substantially from actual realized investments and can span many years of implementation.
GE Vernova Investment Announcement
Trump invited David Bromell, a facility leader for GE Vernova (the energy equipment spin-off from General Electric), to speak about specific investments linked to Saudi demand.
Bromell outlined GE Vernova’s plans: “Over $750 million in the US focused on true manufacturing jobs here stateside. We’re looking at tripling the output of our Greenville, South Carolina facility where we make the gas turbines that are supporting US needs as well as the Saudi Arabia needs.”
He provided specific figures: “$300 million in gas investment, resulting in over 500 pieces of new equipment being installed in the Greenville, South Carolina facility. That translates into roughly 1,800 jobs across the board for GE Vernova.” He also emphasized workforce development: “We’re partnering with local communities to build the skill set that’s required to meet these capacity needs. So that talent pipeline is incredibly important.”
Context for General Readers
GE Vernova manufactures gas turbines used in power plants. Saudi Arabia has been investing heavily in electricity generation infrastructure to support industrial development and to reduce domestic oil consumption, freeing more oil for export. The Greenville, South Carolina facility is a major manufacturing hub for these large industrial turbines.
F-35 Fighter Jet Sales to Saudi Arabia
Trump confirmed plans to sell F-35 stealth fighter jets to Saudi Arabia, a significant development that has long been a Saudi priority but faced obstacles due to concerns about Israel’s “qualitative military edge” in the region.
When asked directly, Trump stated: “We’re going to sell them F-35s. That’s the end of the question isn’t it?” He added: “They’re going to purchase F-35s. They’re buying them from Lockheed and it’s a great plane.”
On the question of whether these would be the same aircraft used by Israel’s military, Trump said: “I think it’s going to be pretty similar, yeah.” He dismissed concerns about Israel’s qualitative military edge: “This is a great ally and Israel is a great ally, and I know they’d like you to get planes of reduced caliber, I don’t think that makes you too happy. They’ve been a great ally, Israel’s been a great ally, and we’re looking at that exactly right now. But as far as I’m concerned, I think they are both at a level where they should get top of the line.”
When pressed on whether Israel had wanted the sales conditioned on Saudi normalization with Israel, Trump said simply: “Israel will be happy. Israel is going to be happy… Israel’s aware and they’re going to be very happy.”
Context for General Readers
The F-35 Lightning II is America’s most advanced stealth fighter jet, manufactured by Lockheed Martin. US law requires that arms sales to Middle Eastern countries preserve Israel’s “qualitative military edge”—meaning Israel should maintain military superiority over its neighbors. The F-35 has previously been sold to Israel and the UAE (as part of the Abraham Accords), but sales to Saudi Arabia were blocked during previous administrations. This sale would represent a major shift in US policy and could reshape military balance in the region.
US-Saudi Defense Agreement
When asked whether the two countries had reached agreement on a US-Saudi defense treaty, Trump initially said “We pretty much have,” then clarified: “We have reached agreement on that.”
The details of the agreement were not disclosed during the press availability.
Context for General Readers
A formal defense treaty between the US and Saudi Arabia would be a significant departure from the current relationship. While the US has sold weapons to Saudi Arabia and maintained military cooperation for decades, there is no mutual defense treaty like those the US has with NATO allies, Japan, or South Korea. Such a treaty would likely require Senate ratification. Previous negotiations during the Biden administration reportedly foundered on Saudi demands for security guarantees and civilian nuclear cooperation.
Advanced Chip Export Licenses
A reporter asked Trump whether he had approved export licenses for advanced chips to Saudi Arabia—a significant question given US restrictions on advanced semiconductor exports to many countries due to national security concerns.
Trump said: “We are working on that, we’re negotiating that right now,” then turned to Secretary of State Marco Rubio for elaboration.
Rubio responded: “We may have announcements on that later today, but that’s what we’ve been working on is the mechanics by which something like that can be achieved as part of the broader process. Part of this broader engagement and cooperation between our two countries.”
Trump added: “Certain levels of chips.”
The Crown Prince connected this to Saudi Arabia’s AI ambitions: “Saudi Arabia have a huge demand of a huge need of computing power. And we’re going to spend, in the short term, around $50 billion by consuming those semiconductors for our needs in Saudi Arabia.” He said agreements would allow Saudi Arabia to “focus that consuming power in short term by $50 billion from America and long term with hundreds of billion dollars.”
Context for General Readers
The US has implemented strict controls on exports of advanced semiconductors (computer chips), particularly those used for artificial intelligence, due to concerns about military applications and strategic competition with China. These restrictions have applied broadly, and granting export licenses to Saudi Arabia would represent a significant decision with implications for both the US semiconductor industry and geopolitical relationships. The “certain levels of chips” comment suggests negotiations may involve tiered access rather than unrestricted exports.
Abraham Accords and Israel-Palestine
A reporter asked whether Trump had raised the Abraham Accords—the normalization agreements between Israel and Arab states—in his discussions with the Crown Prince.
“I already brought them up,” Trump said. Asked about the response, he said: “I think I got a positive response.”
The Crown Prince elaborated: “Definitely we believe having a good relationship with all countries is a good thing. And we want to be part of the Abraham Accords, but we want also to be sure that we secure a clear path of two-state solution. And today we have a healthy discussion with Mr. President that we’re going to work on that to be sure that we can prepare the right situation as soon as possible to have that.”
Trump characterized the discussion: “I don’t want to use the word commitment, but we’ve had a very good talk on the Abraham Accords. We talked about one-state, two-state—you know we talked about a lot of things; in a short period of time we’ll be discussing it further, too. But I think you have a very good feeling toward the Abraham Accords.”
MBS concluded: “We want peace for the Israelis, we want peace for the Palestinians. We want them to coexist peacefully in the region, and we will do our best to reach that date.”
Context for General Readers
The Abraham Accords were diplomatic agreements brokered by the first Trump administration in 2020 that normalized relations between Israel and the United Arab Emirates, Bahrain, Sudan, and Morocco. Saudi Arabia’s potential inclusion was always the biggest prize—as the custodian of Islam’s holiest sites and the Arab world’s largest economy, Saudi normalization with Israel would be transformative for regional politics. However, Saudi Arabia has traditionally conditioned normalization on progress toward Palestinian statehood. The “two-state solution” refers to the creation of an independent Palestinian state alongside Israel, which has been the international community’s preferred framework for resolving the Israeli-Palestinian conflict but has remained unrealized.
Iran: Nuclear Strikes and Deal Negotiations
Trump made extensive comments about Iran, claiming credit for destroying Iran’s nuclear capabilities and confirming ongoing negotiations toward a deal.
On past military action, Trump said: “I think we’ve done a great job in wiping out the nuclear capacity of Iran. Nobody else could have done that. No other president would have done it. We had the pilots in the Oval Office right here, we were celebrating a very successful attack.”
He recounted what the pilots told him: “Sir, for 22 years, we practiced this attack. Our predecessors—these were very young guys—so, 22 years, they said our predecessors and us practiced the attack on Iran, but no president ever gave us the go ahead. Three times a year, they went out and they practiced the attack. Nobody let us do it until you came along, and I let them do it because it was the right thing to do. You can’t have a nuclear Iran.”
Regarding current negotiations, Trump said: “Iran does want to make a deal. I can say, I think they very badly want to make a deal. I am totally open to it and we’re talking to them, and we start a process. But it would be a nice thing to have a deal with Iran, and we could have done it before the war, but that didn’t work out. And something will happen there I think, but they would very much like—I mean they may say something else, but they would very much like to have a deal.”
When asked if he had been briefed on direct US-Iran talks and whether they might impact Saudi security interests, Crown Prince MBS said: “We are close allies, we’ll be working closely together on that issue and we will do our best to help to reach a deal between America and Iran. And we believe it’s good for Iran’s future to have a good deal that will satisfy the region and the world and the rest of America. So, we will do our best to see that they happen.”
Asked about a potential civil nuclear deal with Saudi Arabia, Trump said: “I can see that happening,” but added: “It’s not urgent. It’s always when you have civil nuclear but you have more oil than almost anybody else.”
Context for General Readers
Trump appears to be referencing military strikes on Iranian nuclear facilities that occurred during his current term. This would be a highly significant military action—previous administrations considered but did not execute such strikes due to concerns about regional escalation and uncertain effectiveness. The reference to B-2 bombers and 22 years of planning suggests strikes on hardened underground facilities, which Iran has built to protect its nuclear program from air attack.
A “civil nuclear deal” would allow Saudi Arabia to develop nuclear power plants for electricity generation. Such agreements typically involve safeguards to prevent nuclear material from being diverted to weapons programs. Previous negotiations included controversial Saudi requests to enrich uranium domestically rather than import nuclear fuel.
Syria: Sanctions Lifted at Saudi and Turkish Request
When a Palestinian reporter asked about Syria, Trump confirmed he lifted sanctions at the specific request of Crown Prince MBS and Turkish President Erdogan.
“The crown prince called me, and he specifically asked me if I would lift the sanctions on Syria because he wants to see Syria make it,” Trump said. “As you know, the leader of Syria was just here. And we had a great meeting and he’s a strong guy and I guess you need a strong person to run it.”
He continued: “Also the president of Turkey Erdogan called me specifically. He said, you know, if you don’t lift the sanctions, Syria doesn’t have a chance. If you do, they have a very good chance and between the two of them and some others I lifted the sanctions and the results so far have been pretty good.”
Context for General Readers
Syria has been under extensive US sanctions since the Assad regime’s brutal crackdown on pro-democracy protesters beginning in 2011 and the subsequent civil war. The reference to “the leader of Syria” visiting the White House suggests a new government has taken power, likely following the fall of the Assad regime, which would represent a major geopolitical shift in the region. Turkey and Saudi Arabia have both been involved in Syrian affairs and would have strong interests in the country’s reconstruction and political direction.
Gaza Reconstruction and Palestinian Issues
A reporter asked the Crown Prince how much money Saudi Arabia would contribute to Gaza reconstruction.
“We are in discussions about that, still there is no amount,” MBS replied.
Trump interjected: “It’ll be big.”
“But we will definitely help,” the Crown Prince confirmed.
When asked about an international security force for Gaza given Trump’s pledge of “no US boots on the ground,” and how this might affect Palestinian sovereignty and statehood, Trump responded: “I think we’re going to get along great with the Palestinians. We know their leadership, we just had a very—you hate to say war, but it was a war, very, very successful. And you could say really it was on behalf of everybody.”
On Palestinians generally, Trump said: “The Palestinians are doing very well actually. I think we’re working very closely with a lot of people that make everybody happy, including Israel, the Palestinians and everybody.”
When a reporter mentioned “relocation flights to South Africa” with Palestinians being charged up to $2,000 per seat, Trump pivoted to criticize South Africa: “I’m not going to South Africa for the G20 because I think their policies on the extermination of people are unacceptable. So, I’m not going. So, I won’t refer to anything having to do with South Africa. South Africa has behaved extremely badly.”
Context for General Readers
The reference to “a war” in Gaza would be the conflict following Hamas’s October 7, 2023 attack on Israel. Trump’s characterization of it as “very successful” and conducted “on behalf of everybody” suggests he is describing Israeli military operations with US support. The reference to “relocation flights” and Palestinian migration to South Africa appears to relate to displacement of Palestinians from Gaza, though Trump did not engage with this directly. Trump’s criticism of South Africa’s “policies on the extermination of people” likely references South Africa’s genocide case against Israel at the International Court of Justice, which accused Israel of violations in Gaza. Trump’s decision to skip the G20 summit in South Africa would be a notable diplomatic snub.
Khashoggi Murder and 9/11: Contentious Exchange
An ABC News reporter asked a multi-part question that drew sharp responses from both leaders. The reporter asked Trump whether it was appropriate for his family to do business in Saudi Arabia while he is president, then asked the Crown Prince about US intelligence conclusions that he “orchestrated the brutal murder of a journalist” and noted that “9/11 families are furious that you are here in the Oval Office.”
Trump immediately asked: “Who are you with?” When told ABC News, he responded: “Fake news. ABC fake news. One of the worst in the business, but I’ll answer your question.”
On his family’s business dealings, Trump said: “I have nothing to do with the family business. I have left and when I’ve devoted 100 percent of my energy what my family does is fine. They do business all over, they’ve done very little with Saudi Arabia actually. I’m sure they could do a lot and anything they’ve done has been very good.”
On Jamal Khashoggi, Trump defended the Crown Prince: “As far as this gentleman is concerned, he’s done a phenomenal job. You’re mentioning somebody that was extremely controversial. A lot of people didn’t like that gentleman that you’re talking about. Whether you like him or didn’t like him things happened, but he knew nothing about it and we can leave it at that. You don’t have to embarrass our guest by asking a question like that.”
Crown Prince MBS asked to respond and addressed 9/11 first: “You know, I feel painful about, you know, the families of 9/11 in America, but, you know, we have to focus on reality. Reality based on CIA documents and based on a lot of documents that Osama bin Laden used Saudi people in that event for one main purpose is to destroy this relation, to destroy the American-Saudi relation. That’s the purpose of 9/11. So whoever buying that, that means they are helping Osama bin Laden purpose of destroying this nation.”
He continued: “That strong relation between America and Saudi Arabia is bad for extremism. It’s bad for terrorism and we have to prove—proved him wrong. And to build our relation to continue developing our relations is critical in the safety of the world. It’s critical against extremism and terrorism.”
On Khashoggi, MBS said: “About the journalist, it’s really painful to hear, you know, anyone that been losing his life for, uh, you know, no real purpose or nothing illegal, uh, way and it’s been painful for us in Saudi Arabia. We did all the right steps of, uh, investigation, etc. in Saudi Arabia and we’ve improved our system to be sure that nothing happened like that and it’s painful and it’s a huge mistake and we are doing our best that this doesn’t happen again.”
Context for General Readers
Jamal Khashoggi was a Saudi journalist and Washington Post columnist who was murdered inside the Saudi consulate in Istanbul in October 2018. US intelligence concluded with high confidence that Crown Prince Mohammed bin Salman approved the operation. Saudi Arabia initially denied involvement, then claimed it was a rogue operation, and eventually prosecuted several individuals. The Crown Prince has denied ordering the killing.
Regarding 9/11, 15 of the 19 hijackers were Saudi nationals, though the Saudi government was not found to have directed the attacks. The 9/11 Commission and subsequent investigations examined Saudi government connections, and families of victims have pursued legal action against Saudi Arabia. The Crown Prince’s framing—that bin Laden used Saudis specifically to damage US-Saudi relations—represents the Saudi government’s long-standing position.
AI and Technology Cooperation
Multiple questions addressed US-Saudi AI cooperation. The Crown Prince explained Saudi Arabia’s strategic interest: “AI is critical for us because one of the long-term problems that we could have is lack of workforce. As you’ve seen in the past few years, some of them have reached 30 percent of the global migration to Saudi Arabia. So, we know that to assure the Saudi Arabia GDP growing with the lack of workforce that we have, we need to use a lot of computing power to replace jobs in the long term.”
He added: “We want to link it to American private sectors and the supply from America. So, there’s a lot of opportunities in that area.”
Trump noted US involvement in Saudi AI development: “We’re also involved in AI in Saudi Arabia. So, we’re working and, again, we’re leading by a lot on AI by actually a lot. China will be in second place, but we’re leading by a lot.”
Context for General Readers
Saudi Arabia has made artificial intelligence a cornerstone of its Vision 2030 economic diversification plan, establishing major AI initiatives and seeking advanced computing infrastructure. The Crown Prince’s comments about using AI to address labor shortages reflects Saudi Arabia’s demographic challenges—the country has relied heavily on foreign workers, and automation could reduce this dependence while increasing productivity. Access to advanced US semiconductors and AI technology has become a major geopolitical issue, with the US restricting exports to many countries over security concerns.
Federal Reserve Chair and Jerome Powell
When asked about interviews for Federal Reserve chair, Trump said he has “already” conducted interviews and “I think I already know my choice.”
He joked about Treasury Secretary Scott Bessent: “Well, I liked him, but he’s not going to take the job. He refused. Do you like Treasury better, right?”
“Much better, sir,” Bessent replied.
Trump then launched into criticism of current Fed Chair Jerome Powell: “Frankly, I’d love to get the guy currently in there out right now, but people are holding me back. He’s done a terrible job. Hurting housing a little bit. The truth is we’ve been so successful. We’ve blown past his interest rate stupidity.”
He continued: “He’s been wrong. That’s why I call him too late. He’s too late. Jerome ‘Too Late’ Powell. He was recommended to me by a guy that made a bad, you know, bad choice. And it’s too bad, but despite that it’s having very little impact because we have, you know, we have all of these things happening, but it has an impact on housing to a certain extent. He’s a fool, he’s a stupid man.”
Bessent said Trump would “be sitting down with” candidates “in the near future,” and Trump mentioned having “some surprising names” as well as “standard names that everybody’s talking about.”
Context for General Readers
The Federal Reserve chair is nominated by the president and confirmed by the Senate for four-year terms. Jerome Powell’s current term as chair runs through May 2026, though his term as a Fed governor extends to 2028. Trump originally appointed Powell in 2017 but has frequently criticized him for not lowering interest rates. The Fed has kept interest rates elevated to combat inflation, which has increased mortgage rates and housing costs. While the president nominates the Fed chair, the Federal Reserve is designed to be independent of political pressure—presidents cannot fire Fed chairs for policy disagreements, though Trump has previously suggested he believes he has that authority.
Venezuela and Maduro
Asked if he had spoken with Venezuelan President Nicolás Maduro, Trump said “No.”
Asked if he was still open to talks, Trump said: “No. He wants to talk… Yeah, I’m open to talk, I talk to everybody, but—but no, he wants to—they treated us very badly. They sent all of their prison population into the United States and we’re getting them out rapidly. What do you say to all of this? And he sends drugs into the United States and other things. No, he treated us badly.”
He added: “He was dealing with a bad president and he was able to get away. We have—now, I think we have the strongest borders anywhere in the world. Nobody’s coming in unless they come in legally.”
Context for General Readers
Trump has repeatedly claimed that Venezuela deliberately released prison inmates to send them to the United States. Venezuela has been under US sanctions, and relations have been hostile. Maduro’s government has faced international criticism for authoritarian practices and disputed elections. Trump’s comments suggest he is open to eventual dialogue but views current relations negatively.
Epstein Files: Heated Confrontation with ABC Reporter
The same ABC News reporter asked why Trump was waiting for Congress to release the Epstein files rather than releasing them himself.
Trump responded with anger: “You know, it’s not the question that I mind. It’s your attitude. I think you are a terrible reporter. It’s the way you ask these questions. You start off with a man who is highly respected asking him a horrible insubordinate and just a terrible question and you could even ask that same exact question nicely.”
He continued: “You’re all psyched—somebody’s psyched you over at ABC. They’re going to psych it. You’re a terrible person and a terrible reporter.”
On the substance, Trump said: “As far as the Epstein files, I have nothing to do with Jeffrey Epstein. I threw him out of my club many years ago because I thought he was a sick pervert. But—I guess I turned out to be right.”
He then named others he said were associated with Epstein: “But you know, who does have? Bill Clinton, Larry Summers, who ran Harvard, was with him every single night, every single weekend. They lived together, they went to his island many times. I never did. Andrew Weissman, I hear. All these guys were friends of his. You don’t even talk about those people.”
Trump characterized the issue as politically motivated: “You just keep going on the Epstein files and what the Epstein is, is a Democrat hoax to try and get me not to be able to talk about the $21 trillion that I talked about today. It’s a hoax. Now, I just got a little report and I put it in my pocket of all the money that he’s given to Democrats. He gave me none, zero, no money to me, but he gave money to Democrats.”
He then threatened ABC’s broadcast license: “I think the license should be taken away from ABC because your news is so fake and it’s so wrong. And we have a great commissioner, the chairman, who should look at that because I think when you come in and when you’re 97 percent negative to Trump. And then Trump wins the election in a landslide, that means obviously your news is not credible and you’re not credible as a reporter.”
White House Chief of Staff Susie Wiles then spoke, naming Reid Hoffman: “I don’t know Reid Hoffman, but I know he spends a lot of money on the radical left. Reid Hoffman, in my opinion, should be under investigation. He’s a sleazebag, and those are the people, but they don’t get any press, they don’t get any news and you’re not after the radical left because you’re a radical left network.”
Wiles concluded: “But I think the way you ask a question with the anger and the meanness is terrible. You ought to go back and learn how to be a reporter. No more questions from you.”
Context for General Readers
Jeffrey Epstein was a financier and convicted sex offender who died in federal custody in 2019 while awaiting trial on sex trafficking charges. He had connections to numerous prominent figures across politics, business, and entertainment. Various documents related to his case and associates have been subject to legal proceedings and gradual release. The “Epstein files” refers to documents that could reveal more about his associates and activities.
Reid Hoffman is the co-founder of LinkedIn and a major Democratic donor. His connection to Epstein has been previously reported—Hoffman has acknowledged meeting with Epstein and has expressed regret.
Regarding broadcast licenses, ABC’s owned stations are licensed by the FCC, but the president cannot directly revoke licenses, and the FCC is an independent agency. Threats to media outlets’ licenses have raised First Amendment concerns.
US Economic Claims and Comparisons
Throughout the meeting, Trump made extensive claims about US economic performance under his administration, which he contrasted with the Biden administration.
On investment: “Between the tariffs and the election, November 5th election, we’ve done things that nobody can believe. $21 trillion will be the amount invested in the United States—or committed to invest—in one year. So, I’m here nine months, we’re up to almost $18 trillion. Biden—as an example, the Biden administration, if you call it that, it’s not—to me, it was the Biden lack of administration, they were less than $1 trillion for four years. We’re going to be $21 trillion for one year.”
On inflation and gas prices: “We inherited a mess with high prices, the worst inflation in the history of our country… Gas prices through the roof and that’s after destroying our petroleum reserve, which was meant for wars and big emergencies, not to try and win an election.” He claimed gas prices are “now at $2.50, $2.45, some are lower than that. It was $4.50, $5, $6, $3.50, $3.75 under Biden.”
On manufacturing: “We have more plants under construction now than at any time in the history of our country. And these are big plants; these are the biggest plants anywhere in the world.” He cited Toyota’s commitment to “invest $10 billion on new auto plants, all American workers.”
On AI competition with China: “We’re leading by a lot on AI by actually a lot. China will be in second place, but we’re leading by a lot.”
Context for General Readers
These claims would require independent verification. Investment “commitments” differ from realized investments and can include projects spanning many years. The $21 trillion figure, if accurate, would be extraordinary and unprecedented. Gas prices have fluctuated significantly—they reached historic highs in 2022 due to multiple factors including the post-COVID recovery and Russia’s invasion of Ukraine, then declined substantially. The Strategic Petroleum Reserve was drawn down during the Biden administration to address high prices, which was controversial. Manufacturing construction has indeed increased significantly in recent years, particularly for semiconductor plants and EV battery facilities, driven partly by Biden administration industrial policy legislation.
China Relations and Farm Purchases
Trump briefly addressed China, saying: “Our relationship with China has been very good. And as far as buying our farm products, they’re pretty much on schedule.”
He told Treasury Secretary Bessent: “I’d like you to call them, say if they could speed it up.”
“I will, sir,” Bessent replied.
Context for General Readers
Agricultural purchases were a key element of the “Phase One” trade deal Trump signed with China in January 2020. China committed to purchasing $200 billion in additional US goods over 2017 levels, including significant agricultural products. Monitoring China’s compliance with these commitments has been ongoing.
South Africa and G20 Summit
Trump confirmed he will not attend the G20 summit in South Africa: “I’m not going to South Africa for the G20 because I think their policies on the extermination of people are unacceptable. So, I’m not going.”
Context for General Readers
South Africa brought a case against Israel at the International Court of Justice in December 2023, accusing Israel of genocide in Gaza. The ICJ issued provisional measures ordering Israel to prevent genocide. Trump’s reference to “policies on the extermination of people” appears to be accusing South Africa of supporting what he considers false genocide allegations against Israel, though the phrasing is unusual. Presidential absence from a G20 summit would be diplomatically notable.
Wars Stopped and Russia-Ukraine
Responding to a Saudi journalist who noted he had “de-escalated seven wars,” Trump said: “I’ve actually stopped eight wars. I have another one to go with Putin. I’m a little surprised that Putin has taken longer than I thought.”
He mentioned specific conflicts: “We stopped India and Pakistan. I could go through the list; you know the list better than I do.”
Context for General Readers
Trump is likely referring to the February 2025 military confrontation between India and Pakistan over Kashmir, which involved airstrikes and threatened to escalate before both sides stood down. His comment about being “surprised” that the Russia-Ukraine war is taking longer than expected suggests ongoing efforts to negotiate an end to that conflict, which began with Russia’s invasion in February 2022.
White House Renovations and State Dinner
Trump concluded the press availability by discussing White House renovations, including a planned ballroom to replace the East Room for large events.
“For 150 years they’ve wanted a ballroom and now you’re going to get a great ballroom,” Trump said. He noted that the state dinner in MBS’s honor that evening was limited by room size: “We have a very small room, right? It’s called the East Room and it’s beautiful. It’s lovely, but it’s like for a little cocktail before you go into a ballroom.”
He emphasized: “No government funds, it’s all put up private money, all private money… Not one penny is being used from the federal government.”
Relationship Characterization
Both leaders characterized the US-Saudi relationship in superlative terms.
Trump: “I would say top of the line. It’s as good as it can—I don’t think it can get much better. We have—we have a country that trusts us and that’s why they make that investment. If they didn’t trust us, they couldn’t make that investment. And we trust them.”
The Crown Prince: “It’s a critical relationship for our political tent, for our economical tent, for our security, for our military, for many things. And it has been there for nine decades and the opportunities that we have today is huge. And it seems that it’s going to be getting deeper in the next few decades.”
When asked which past president had the best relationship with Saudi Arabia besides Trump, MBS diplomatically named the president who initiated the relationship and Reagan, adding: “But we worked with all presidents.”
Trump pressed: “Does Trump blow them all away?”
MBS replied with a laugh: “It’s not about me, Mr. President.”
Trump also mocked Biden’s 2022 visit to Saudi Arabia: “Trump doesn’t give a fist bump. I grab that hand. I don’t give a hell where that hand’s been. I grabbed that hand. When Biden? He travels for 20 hours gets out and he gives a fist bump. No. When you get out of the plane and you get the future king and the man who’s one of the most respected people in the world, you shake his hand, you don’t give him a fist bump.”
Reference
“Remarks: Donald Trump Holds a Bilat with Mohammed bin Salman of Saudi Arabia – November 18, 2025.” Factbase, Roll Call, 18 Nov. 2025, factba.se/trump/transcript/donald-trump-holds-bilat-mohammed-bin-salman-saudi-arabia-november-18-2025.