Bessent: The Saudis Really Stepped Up During The 12-Day War, Operation Midnight Hammer
U.S. Treasury Secretary Scott Bessent discusses takeaways from President Donald Trump’s meeting with Saudi Arabian Crown Prince Mohammed bin Salman, the affordability crisis, the Federal Reserve, and more in an interview with FOX News host Bret Baier on Tuesday’s “Special Report.”
BRET BAIER, FOX NEWS: Mr. Treasury Secretary, thanks for being here. TREASURY SECRETARY SCOTT BESSENT: Brett, good to be with you. That was a big announcement at that moment, 600 to a trillion? Brett, it was the President at his best, working for the American people, always looking for more for them, and it was a big day here today. BAIER: What does that look like? I mean, it sounds great, 600 billion to a trillion, but how does that roll out? What does it actually look like? BESSENT: Well, think about, if you were another country in the world, what do you look to the U.S. for? What are the sources of American power? And that’s what we saw on display here today. First, there’s the military. So Saudis are going to be buying F-35s coveted by everyone around the world, proof that they are a valuable ally. Two, our great economy and the reserve currency status of the dollar. So they are willing to put in a trillion dollars of investment into their portfolio that they already have here. The U.S. is a premier destination in the world. And then three, our technology and innovation economy. Again, they want to invest in that. They want to buy our chips. We are going to partner them with some of the U.S.’ biggest tech companies. And then there is also a Saudi startup that will be getting a smaller supply of chips that can be built on. BAIER: Let me go back to the first one, the military. There had been concern at some time in the Pentagon about giving the F-35s or selling the F-35s with that technology. Israel had raised concerns about it as well, that maybe China could eventually get that technology or maybe it’s not the best thing. What changed in the president’s mind on that front? BESSENT: Well, I think the Saudis have shown that they are valuable allies in the region. It was the Saudis who stepped up during the 12-day war with Iran, during the B-2 operation, Operation Midnight Hammer. So I think the Saudis really showed that they are the premier military player in the area. And during a time of stress, they were 100 percent behind the U.S.
