Saudi Arabia said it would increase US trade and investment by $600 billion
Saudi Arabia’s Crown Prince Mohammed bin Salman told President Trump on Wednesday that the kingdom plans to increase investment and trade with the United States by at least $600 billion over the next four years, according to Official Saudi press agency.
The crown prince, the de facto leader of Saudi Arabia, told Mr. Trump that his new administration had the potential to create “unprecedented economic prosperity” in the United States and that the kingdom wanted to participate, a statement from the Saudi Press Agency said.
There was no immediate confirmation of the call from the White House.
Mr. Trump has promised to speed up investment in the US, especially to help revive the manufacturing industry. While campaigning last year, he said he would use one combination of tax cuts and tariffs forcing companies to invest in the United States.
On Tuesday, Mr. Trump announced Stargatea joint venture between OpenAI, SoftBank and Oracle aimed at creating at least $100 billion in artificial intelligence infrastructure. This initiative could invest up to $500 billion over four years.
Saudi Arabia was Mr. Trump’s first stop on his first foreign trip as president in 2017, reflecting the importance he placed on his relationship with the crown prince. During that term, the United States pursued major deals with the kingdom, including arms sales.
Since then, Mr. Trump and his family have signed many personal business deals in the Gulf region, especially in Saudi Arabia and the United Arab Emirates.
The Trump Organization announced several projects in Saudi Arabia in December and also unveiled the $533 million Trump Tower in Jeddah with Dar Global, the global arm of Saudi real estate company Dar Al Arkan. Saudi Arabia. Both Dar Al Arkan and its subsidiary Dar Global are private companies, but they are close relationship for the Saudi government.
Jared Kushner, Mr. Trump’s son-in-law, also guaranteed investment of 2 billion USD from Saudi Arabian government funds to his private equity firm six months after Mr. Trump left the White House in 2021.
“One thing is for sure, Trump and MBS are both fluent in the language of business,” said Salman al-Ansari, a geopolitical analyst from Saudi Arabia. abbreviation of the crown prince’s name.
Mr. Trump told reporters in the Oval Office on Monday that Saudi Arabia was his first foreign stop in his last term because “they agreed to buy $450 billion worth of our products.”
If Saudi Arabia wanted to “buy another 450 or 500,” he said, “I think maybe I would go there” on the first foreign trip of his second term.
In the spring, before being elected, Mr. Trump talked to the prince. It’s unclear what they discussed and whether this was the only conversation they’ve had since Trump left office.
During the election, Mr. Trump speak Al Arabiya, a Saudi-owned television station, said he had “great respect for Mohammed, who is doing very well.”
Mr. Trump sided with the crown prince after the murder of Washington Post journalist Jamal Khashoggi in 2018, despite the CIA’s assessment that The crown prince may have approved the killing and dismemberment by Mr. Khashoggi.
According to State Department information, Secretary of State Marco Rubio also spoke with the Saudi crown prince in a phone call in which they discussed “the strength of the US-Saudi partnership at this time There is this important change.” In 2018, when he was still a senator, Mr. Rubio said there was “no more doubtsThe Crown Prince of Saudi Arabia is involved in the murder of journalist Khashoggi.
Another focus of the Trump administration is convincing Saudi Arabia to participate Abraham Accordsa deal brokered during Mr. Trump’s first term resulted in several Arab countries establishing formal diplomatic relations with Israel.
In a statement released by the Saudi press agency early Thursday morning, Saudi Arabia said Trump and Crown Prince Mohammed also discussed “ways to promote peace, security and stability in the Middle East.” although the statement did not mention any discussion of the possible extension of those agreements.
In the Oval Office on Monday, Mr. Trump also discussed those agreements. “I don’t think you have to push them,” he told reporters. I think it will happen, but maybe not yet. But eventually they will reach an agreement, the Abraham Accords.” Asked when he expected both sides to sign a new deal, Mr. Trump replied: “Soon.”
Last year, Crown Prince Mohammed announced that the kingdom will not normalize relations with Israel without securing the first recognition of Palestinian statehood, a position that marked a change from previous declarations.
