President-elect Donald Trump addressed the nation Tuesday in his first press conference since Congress certified his election victory. Speaking from his Mar-a-Lago estate, Trump unveiled a series of economic initiatives, including a $20 billion investment in U.S. data centers and plans to reverse President Biden’s restrictive energy policies.
The $20 billion investment, spearheaded by DAMAC Properties, will focus on building state-of-the-art data centers in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana. Hussain Sajwani, DAMAC’s owner, highlighted the project’s emphasis on artificial intelligence and cloud technology development. Trump stated the funds would be delivered over a “short period of time” and promised expedited regulatory approval for companies investing over $1 billion in the U.S., describing current regulations as a “quagmire” that hinders growth.
“If you invest a billion dollars or more, we’re going to move them quickly through the environmental process,” Trump said, emphasizing his commitment to streamlining business operations.
The president-elect also addressed energy policy, pledging to reverse President Biden’s bans on offshore oil drilling and reinstate U.S. energy dominance. Trump’s announcement followed an eleventh-hour executive order signed by Biden on Monday, halting new oil and gas drilling across 625 million acres of U.S. coastal and offshore waters. Trump criticized the move, declaring, “We’re going to drill, baby, drill.”
Trump’s remarks extended to international concerns, including the Panama Canal. He expressed interest in reclaiming control of the canal, calling President Jimmy Carter’s 1977 treaty that ceded it to Panama a “historic mistake.” Carter, who passed away on December 29, will lie in state at the U.S. Capitol this week.
Trump’s press conference signaled a sharp pivot from Biden-era policies, with a focus on economic revitalization, energy independence, and reducing regulatory burdens. His administration is set to adopt a pro-business stance as he prepares to take office later this month.