Saudi Crown Prince Promises $600 Billion Investment in US Trade
On Thursday, Saudi Crown Prince Mohammed bin Salman pledged to invest $600 billion in US trade and investments, congratulating Donald Trump on his return to the White House. This commitment was made during a phone call following Trump’s inauguration on Monday, as reported by Saudi state media.
As the de facto leader of Saudi Arabia, the world’s largest oil exporter, Prince Mohammed expressed the kingdom’s intention to significantly expand its trade relations with the United States over the next four years. While the source of the funds was not detailed, the $600 billion represents more than half of Saudi Arabia’s GDP. Specific plans for how the funds will be used have not yet been disclosed.
The crown prince, 39, also extended congratulations from his father, King Salman, during the call. The White House confirmed this was Trump’s first conversation with a foreign leader since resuming office.
The two leaders discussed various topics, including regional stability in the Middle East, security, and the fight against terrorism. They also talked about Saudi Arabia’s international economic goals and opportunities for increased mutual prosperity.
Trump’s first official visit as president in 2017 was to Saudi Arabia, where he secured a $450 billion trade deal. During this week’s conversation, Trump humorously suggested he would consider another visit if Saudi Arabia raised its financial commitment to $450 billion or even $500 billion, adjusted for inflation.
Trump’s earlier term saw progress in Middle Eastern diplomacy, with the UAE, Bahrain, and Morocco recognizing Israel under the 2020 Abraham Accords.
