Big Bucks on Tour: Trump's Billion-Dollar Gulf Galavant
Business magnate Donald Trump Highlights Billions in Business During Gulf Tour
U.S. President Donald Trump is jetsetting through the Middle East, claiminghe's striking multi-billion-dollar deals. But, uh, seems like not everyone's buying it.
Old Donnie T has been blowing his own horn about securing economic gold mines all over the Middle East. Yet, some question the legitimacy of his claims, as he did in the past. The Republican reckons his trip through the desert could potentially generate between $3.5 to $4 trillion. During a Qatari powwow with entrepreneurs, he raved, "For a guy that's been in for only a while, nobody's ever seen anything like this." Y'know, the typical modest Trump brag.
The once-in-a-lifetime trip, which's had Trump stops in Saudi Arabia, Qatar, and the United Arab Emirates, has been a display of the Gulf states' wealth. They've been skimming for Trump's favor like alcoholics at an open bar, each making flashy promises to the Americans.
Take Saudi Arabia, for instance. They're talking 'bout investments worth $600 billion in the U.S., but the White House's tallies only amount to a fraction of that figure. With a costly reform program in progress, a looming budget deficit, and pressure from lower oil prices, it's unclear how they might deliver on their promises.
Political Puppetry
The U.S. and Qatar allegedly agreed on a lucrative "economic exchange" worth at least $1.2 trillion, in addition to a bunch of deals over $240 billion. Oddly enough, Qatar's kept mum on the gruesome details, and the funds have yet to materialize. In a deal between Qatar Airways and U.S. aircraft manufacturer Boeing, Trump initially shouted out "over $200 billion" as the biggest sale in Boeing history. Later, however, the White House put the number at $96 billion.
So, things don't add up, and Trump's still counting chickens before they hatch. According to Prof. Roman Yampolskiy of the University of Louisville, "Historically, announcements of large investments often promise too much and deliver too little." The Al Jazeera found that only about half of the ten trillion dollars Trump mentioned could be confirmed by specific announcements from companies and foreign countries.
Biz with the Trump Boys
Since moving into the White House, Trump's been claiming he's bagsied investments worth several billion dollars for the U.S. Two months post-inauguration, he claimed to have secured "at least $10 trillion in investments and potential investments." But those numbers are as reliable as a virgin's vow, according to some critics.
The Senate ain't too pleased with Trump's flirtations with global leaders. They took issue with a supposed gift from Qatar: a billion-dollar worth Boeing 747 airplane, destined to become the presidential Air Force One. If the plane's worth is accurate, it'd be the flashiest gift ever given to a president by a foreign partner. Dems called it straight-up corruption and threatened protests in Congress.
Trump's defended the gift tooth-and-nail, while the Qatari PM, Mohammed bin Abdulrahman Al Thani, referred to the transaction as "simple business." But the deal was conspicuously absent from Qatar's official announcements during Trump's visit.
The Commission has also been consulted on the draft budget regarding the alleged economic deals during Trump's Middle East tour. In the realm of finance, politics, and general-news, questions are being raised about the validity of Trump's claims to have secured multi-billion dollar investments.
