WASHINGTON – President Trump spoke at an investment conference in Miami sponsored by Saudi government agencies on Wednesday. This spoke in a speech that occurred as Trump organizations were trying to expand Saudi Arabia’s real estate empire and the president was trying to strengthen relations with his Middle Eastern partners. .
The president’s speech came the day after the US and Russia Lectures held In Riyadh, the Saudi Arabian capital, the regime is calling for Saudi Arabia’s cooperation on a variety of issues, including the war in Gaza, on how to end the war in Ukraine. Saudi Arabia Crown Prince Mohammed bin Salman He vowed to invest $600 billion In the United States, he called Trump over the next four years shortly after taking office in January.
Robert Schmidt/AFP by Getty Images
The FII Priority Summit in Miami Beach is being billed as an opportunity to “come together with thought leaders, investors and policymakers and “unleash extraordinary value creation.” The Saudi Arabian Public Investment Fund is the main supporter of the Miami Conference, along with other Saudi government agencies, including the Saudi Ministry of Investment and Riyadh Bank, which are controlled by the Saudi Arabian government.
The Crown Prince-led Saudi public investment fund reportedly invested $2 billion in his son-in-law Jared Kushner’s A private equity company after Trump left the White House in 2021. The fund is also a major backer of Liv Golf, which has held several tournaments at the Trump Golf Course.
The Trump family business relationship with Saudi Arabia affects why he is offering speeches and how the president’s business interests manage his relationship with the country’s authoritarian leadership. They are questioning whether there is a possibility of giving.
“When I see something like this, is this done to advance Trump’s business interests, or is there any reason why America wants to be president?” Responsible ethics of the government or crew. Jordan Libowitz, vice president of citizen communications for the company, spoke about Trump’s speech.
“The president is involved in business transactions abroad, and you need to wonder what he is putting in the first place, what he is putting,” Libowitz asked.
The president began his speech by promoting his property in the Miami area before mentioning Middle Eastern leaders, but he only acknowledged Saudi Arabia and its leaders by name. The president nodded “the Kingdom of Saudi Arabia, a special place with special leaders,” referring to Saudi Finance Minister Mohammad al-Jadan.
Trump noted that Princess Reema Bandar Al Saud, the US ambassador to Saudi Arabia, sat next to the man on her right hand, billionaire Elon Musk. He also nodded to “a very special man” to Jared Kushner, his son-in-law and former Middle Eastern point figure.
He thanked Saudi Arabia for his “great job” in holding talks on Russia, Ukraine and Crown Prince, and he once again bashed Ukrainian President Voldymir Zelensky. “Don’tator.” The White House also said that bin Salman played a role in the recent release of America, where he was detained in Russia. Mark Vogel.
The president reiterated his plan to provide businesses that manufacture products in the United States to companies that lower corporate tax rates.
“Today, there’s a simple message aimed at business leaders across the nation and around the world,” Trump said. “If you want to build a future, do you want to push boundaries, unlock breakthroughs, transform industry, and make a lot of money? Are you already making lots of money? I don’t want to say. Donald J. “Under a certain president named Trump, it’s on earth more than the current and future United States of America,” he said.
The president also praised the administration’s work to force Musk’s work to significantly reduce illegal immigration and the size of the government. His goal is to cut spending up to $2 trillion. The president came to the idea of giving 20% Save money Government efficiency was achieved by returning to Americans.
“We’re thinking about paying 20% back to American citizens and paying 20% back on debt,” Trump said, but 20% of those savings only put a small dent in federal debt. is. $36 trillion. It is unclear where the other 60% will go.
The Institute hosting the Miami Conference did not immediately respond to requests for comment from CBS News.
White House officials asked why the president chose to speak at the event, and earlier this speech he told CBS News that he “encourages investment in the United States.”
Associated Press
Business relations with Saudi Arabia
The president handed over the daily operations of the Trump organization to his children, and placed his assets in confidence, as well as his first term before taking office in January. However, he refuses to sell out entirely from his business interests, raising questions about the possible conflict of interest in dealing with foreign companies.
Last year, the Trump organization announced plans to develop Trump Tower in Jeddah, a major Saudi Arabian city along the Red Sea.
Eric Trump, the president’s son and executive vice president of the Trump organization, announced his Jeddah contract in December. He told Reuters that the Trump organization also has plans for Trump branded property in Riyadh.
“What I say to you will definitely be a tower,” Eric Trump told the press, denying other details.
Kushner, who dealt with Trump’s Middle East issues at the White House during his first Trump term, said that despite the CIA’s ratings date back to 2018 and that Bin Salman, known as MBS, had approved the murder. He grew up close to the Prince of Saudi Arabia. Washington Post columnist and US resident Jamal Khashoggi.
Recently Kushner Dismissed conflict of interest concerns Regarding his interest in the Saudi Arabian Investment Fund in his private equity company, Affinity Partner. He also scalled when asked if he believed in declassified US intelligence reports. Released in 2021 It discovers that the Crown Prince has approved the murder of Khashoggi. Kushner said he had never seen the report.
“Are we really doing this?” Kushner first responded last week when asked if he believed the US intelligence report, which refers to MBS.
The Saudi Arabia-funded Liv Golf League, which held talks to merge with the PGA Tour, is set to host a tournament at Trump National Doral in April after hosting multiple events at Trump Properties in recent years. By questioning Saudi Arabia’s involvement in the Saudi Arabian terrorist attacks, Trump biased criticism of his involvement in the Saudi Arabian tournament, saying, “Unfortunately, no one is at the bottom of 9/11. No one has reached it. They should have.”
Seth Wenig/AP
Human Rights Watch specifically nominated Saudi Arabia’s involvement in Liv as serious concern, saying the country is trying to make a “severe human rights record” for “Sportswash.”
Earlier this month, Trump met with PGA Tour Commissioner Jay Monaghan at the White House, where he was subject to potential PGA Tour and LIV deals and scrutiny by federal regulators.
“We are grateful that his leadership has brought us closer to the final deal and paved the way for men’s professional golf to unify,” said Monaghan and players Tiger Woods and Adam Scott after the meeting. said in a statement.
Ethical and National Security Questions
Libowitz proposed that a US president, who is emerging with business interests involving foreign governments, complicate the relationship.
“Look, if that country doesn’t want you, you won’t be able to do major business transactions in a country, especially an authoritarian country,” Libowitz said.
Jessica Tilipman, Associate Dean of Government Procurement Law Studies at George Washington University Law School, said the president was in the state that federal employees could affect their financial interests or their family’s interests. He said it is not subject to federal laws that prohibit people from participating in the matter.
“The president doesn’t have these restrictions that you traditionally see about federal employees in the enforcement department,” Tilipman said.
Still, it has traditionally been a norm for a president to sell himself from his business interests or take a blind interest in trust.
“We saw no indication that the President was planning to separate himself from existing economic interests,” Tilipman said. “Again, he doesn’t have to do this legally.”
Scott Amy, an adviser to the Government Oversight Project, said that Trump’s failure to properly sell from his office sparked national security concerns as well as ethical concerns.
“Trump has not been properly sold from his office and recently announced a new hotel in Saudi Arabia,” Amey said. “The Trump Organization’s website sells tickets for Saudi Arabia’s golf league events at Trump’s Miami Golf Course. All meetings involving current or potential business partners or investors are disputes. These The intertwining raises a number of ethical and national security concerns. Speaking about Saudi Arabia’s interests is even less distinct from dominant families and their businesses.”
