WASHINGTON (AP) — President Donald Trump loves big numbers — and he's always happy to talk them up.
Trump, who coined the phrase “truthful hyperbole” in his book “The Art of the Deal,” over the last few days has been steadily increasing the amount of money he says that countries in the Mideast pledged to invest in the U.S. when he visited the region last week. He didn't provide underlying details.
The figure has gone from $2 trillion last week to potentially as much as $7 trillion as of Tuesday, according to statements by Trump and the White House.
A look at how the number has bounced around:
THURSDAY: With his Mideast trip still under way, Trump told reporters on Air Force One: “We just took in $4 trillion.”
FRIDAY: A White House statement said Trump’s “first official trip was a huge success, locking in over $2 trillion in great deals.”
MONDAY: “We brought back about $5.1 trillion," Trump said in remarks to the Kennedy Center's leadership. “That’s not bad. And, it’s being credited as one of the, maybe, the most successful visit that anybody's ever made to any place. There's never been anything like this.”
TUESDAY: “They’re spending $5.1 trillion, probably it’s going to be $7 trillion by the time we stop,” Trump said before a U.S. Capitol meeting with Republican House members.
TUESDAY: “You know, we took in $5.1 trillion in the last four days from the Middle East,” Trump said later in the afternoon in the Oval Office.
The White House did not respond to a request to explain the sources of Trump's escalating claims.
The White House did provide a breakdown on the $2 trillion in its Friday statement. It included $600 billion in investment from Saudi Arabia, which the country announced in January as part of a four-year commitment. There would also be a $1.2 trillion economic exchange with Qatar, as well as $243.5 billion in commercial and defense deals with that country. The United Arab Emirates committed to $200 billion in deals with the U.S., putting the initial White House total at $2.24 trillion, provided all those commitments are actually fulfilled.
Not all of the investment commitments or promised jobs are sure to materialize, so the final tally might not be as much as promised.
Trump said in 2017 that the electronics manufacturer Foxconn would build a $10 billion factory in Wisconsin employing 13,000 people, only for the company to back down from that commitment in 2019.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Which stocks are hedge funds and endowments buying in today's market? Enter your email address and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying now.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.