MIAMI—Speaking at a Saudi-backed investment summit in Miami on Friday, President Donald Trump said that the Middle East will be transformed and its future will be more promising than ever once the war with Iran ends.
He also urged Israel and Saudi Arabia to open a new chapter by normalizing diplomatic ties, encouraging the Kingdom to become part of the Abraham Accords.
“It’s time now,” Trump said. “We hope all of the countries are going to be in the Abraham Accords.”
The Future Investment Initiative Priority Summit is an annual event hosted by Saudi Arabia’s Public Investment Fund. This year’s summit in Miami, the fourth edition, ran from March 25 to 27.
The president delivered the closing address at the summit, which featured financiers, tech executives, and political leaders discussing global investment opportunities.
Trump began his remarks by addressing the war with Iran, stating that the United States is “achieving each and every one of the military objectives” established less than four weeks ago.
“I really believe we saved the Middle East. We saved not just Israel, we saved the Middle East. And it was proven by all those rockets that fired down upon you. Saudi Arabia got hit a lot.”
Since the start of the conflict on Feb. 28, Iran has launched thousands of drones and missiles at Gulf nations, causing damage to civilian, energy, and military infrastructure.
Key targets in Saudi Arabia included the Ras Tanura and SAMREF refineries, which were temporarily forced to halt operations.
Trump reiterated that the United States is holding talks with Iran.
“We’re negotiating now, and it would be great if we could do something,” Trump said.
Trump frequently made jokes during his speech, including referring to the Strait of Hormuz as the “Strait of Trump.”
“I mean, excuse me, I’m so sorry. Such a terrible mistake,” Trump then said. “Fake News will say ‘He accidentally said.’ There’re no accidents with me.”
‘You Learn Who Your Friends Are’
During his speech, Trump also criticized NATO, expressing disappointment that its allies did not provide support in reopening the Strait of Hormuz.
“Unlike NATO, Saudi Arabia fought, Qatar fought, UAE fought, Bahrain fought, and Kuwait fought, even though they shot down three of our planes,” he said, drawing laughter from the crowd.
“You learn who your friends are,” Trump said, adding that, “based on their actions,” he doesn’t see why the United States should continue to protect NATO members. He called it “breaking news.”
“Why would we be there for them if they are not there for us?” he asked.
During his speech, Trump also promoted his “America First” agenda and invited investors to put their money into the United States.
“When this war ends, it’s going to be like a rocket ship,” Trump said, referring to the U.S. economy and the stock market.
Saudi Arabia has played a key role for Trump as he strengthens ties with the kingdom.
“The Gulf states are clearly in a bind,” Steven Cook, a senior fellow at the Council on Foreign Relations, wrote in a recent report.
“They are on the front lines of a war they did not want, but also very much want the United States to finish the job.”
Cook stated that if the Trump administration ends military operations prematurely and allows Iran to control the Strait of Hormuz, these countries will become more vulnerable.
“They asked for seven, and I said, ‘I’m going to give you 10.’ And they were very thankful about that,” Trump told Fox News on March 26.
The Public Investment Fund is Saudi Arabia’s sovereign wealth fund and manages nearly $925 billion in assets. The fund invests in major infrastructure projects in Saudi Arabia and in sectors such as technology, entertainment, sports, renewable energy, and electric vehicles.
According to the event organizer, nearly 1,500 guests attended this year’s invitation-only conference, which aims to connect American companies with the Kingdom’s significant investment resources.
Donald Trump Jr., Jared Kushner, and Middle East Envoy Steve Witkoff also spoke at the summit held at the luxury Faena hotel in Miami.
During a fireside chat at the conference, Witkoff addressed Iran publicly denying it was talking with the United States, stating that both sides “may have a different definition of negotiations.”
He added that some leaders within the Iranian regime may be unable to acknowledge talks with the United States.
“We think there will be meetings this week,” Witkoff stated. “We’re hopeful for it. Ships are passing. That’s a very good sign.”
Witkoff noted that a 15-point deal has been on the table for some time and that the United States is awaiting Iran’s response.
Other prominent speakers included David Ellison, chairman and CEO of Paramount, which recently won the bidding war for Warner Bros Discovery, the parent company of CNN.
