President Donald Trump stated that he would urge Saudi Arabia and other OPEC nations to “lower the price of oil” and reaffirmed his threat to impose tariffs.
The president said he was surprised that OPEC hadn’t reduced oil price before the elections.
“Right now, the price is high enough that, that war will continue”. He said, referring to the Russia-Ukraine crisis.
Saudi state media reported that Bin Salman promised to invest up to $600bn (£484bn) in the US over the next four years. However, this amount was not included in the White House statement following the call.
After Trump spoke, Crude price dropped by 1%
The US president’s video appearance at the World Economic Forum was his first address to a global audience since his inauguration earlier this week.He took the opportunity to emphasize that companies worldwide must manufacture their products in the US or face severe tariffs on imported goods entering the American market.
He also added that he would use urgent decrees to hasten the construction of new power plants.
