Trump announces $20 billion data center investment deal with DAMAC properties

President-elect Donald Trump on Tuesday announced a $20 billion investment deal with DAMAC Properties to build data centers in the United States.

Hussain Sajwani, the firm's chairman, appeared alongside him to confirm the investment plan, with Trump. The president-elect further declared that his government would work to clear administrative red tape for foreign investors to incentivize projects within the U.S.

"And I made it a point of telling people, if you invest a billion dollars or more, and we'll do this for people with far less too, but we guarantee it, we're going to move them quickly through the environmental process," he said. "So I've been a victim of that myself over the years, and I think I know all the games and all the tricks that are played, and much of it is just just done to stop progress."

"So we're going to be helping you and everybody else that comes to the United States and wants to invest their money that you don't get tied up for the rest of your life and you can't do anything," he added. "This commitment further underscores that many of the greatest business leaders on Earth are seeing a very bright economic future for America. Since the election, as you know, very a lot of positive things have happened."

Trump spent much of the press conference discussing trade deficits with Canada and Mexico, vowing to impose tariffs on America's neighbors to address trade deficits.