President Donald Trump is laying the groundwork for more than a trillion dollars in investments into the United States’ economy and more than half of that is coming from the authoritarian Saudi Arabian government, resurfacing long-standing ethical and national security concerns.
But the top federal committee tasked with evaluating these business transactions is now stacked with Saudi-connected officials, and a global law firm just concluded the powerful oversight committee “may be less wary of investments from Saudi Arabia” than they were in the past.
The massive investments stem from two announcements from Trump during his first week in office. On Jan. 21, the president announced Project Stargate, a $500 billion plan involving three companies with Saudi connections to build artificial intelligence data centers, with the first center to be constructed in Texas. Two days later, Saudi Arabia announced that it would be investing $600 billion in U.S. trade, companies, and products over the next four years.
The numerous potential conflicts of interest outlined here, particularly regarding Saudi Arabian investments and the involvement of individuals with direct ties to Saudi entities, raise serious concerns about the impartiality and effectiveness of CFIUS oversight.
The fact that multiple members have such clear financial stakes in sectors directly impacted by CFIUS decisions, like AI and international business deals, necessitates much stricter vetting and divestment requirements. As Rep. Pressley points out, the scale of Saudi investment in US companies demands greater scrutiny, and the potential for "sportswashing" or other influence operations cannot be ignored.
The lack of thorough vetting compared to previous administrations, as noted by Pelissero, further compounds these worries. The public deserves assurance that CFIUS decisions are made in the best interests of the nation, not the personal financial interests of its members.
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