Saudi Arabian Crown Prince Mohammed bin Salman informed Donald Trump about the Kingdom’s plans to invest $600 Billion in expanding trade and economic relations with the United States within the next four-year period, Saudi Arabian state news reported.
In a telephone conversation, Crown Prince Mohammed stated that Trump’s economic reforms would pave the path for an “unprecedented” economic growth and create fertile grounds for Saudi investment.
The crown prince said that while the details about the $600 Billion investment, such as the sources and the allocation of funds are still unclear, it could increase if new opportunities arise.
Trump said earlier in the week that he might make Saudi Arabia his destination for the first visit abroad following his election if Riyadh agreed to buy $450-500 billion of American goods, just as it did during Trump’s 2017 inauguration, and his subsequent visit.
In response to questions from reporters about his plans to travel abroad, Trump said, “Traditionally, my first trip overseas is to the UK. But I selected Saudi Arabia the last time, because they had agreed to purchase $450 billion of American goods.”
He continued, “I promised them that I would make the trip if they bought American products, which they did.” This was the least reported story that I have ever had.
Trump responded to a question about whether he would return if Saudi Arabia bought another $500 or $450 billion, adjusted for inflation.
Trump and Saudi Arabia
Saudi Arabia had previously shown strong economic links with the Trump Administration.
Trump’s visit to Saudi Arabia in 2017 was an historic event. It marked the first occasion that a US President chose a Middle Eastern nation for his or her inaugural overseas trip.
A summit was held with the leaders of the Gulf Cooperation Council. The focus on this visit included counterterrorism, collaboration in economics, and combating Iran’s influence within regional borders.
The trip saw the announcement of a $110 billion deal for arms with Saudi Arabia, which is expected to grow into $350 billion in ten years.
According to subsequent reports including an analysis done by the Associated Press, the agreements in fact were much smaller. The confirmed purchases at the time totaled $14.5 billion.
Trump’s administration has worked to strengthen ties with Gulf countries by focusing on arms sales, economic partnerships and aligning itself with Saudi efforts against Iran.
The relationship was not without its challenges. This is especially true after the murder in 2018 of Jamal Khashoggi. It sparked criticism from both sides of the aisle about U.S. backing for Saudi Arabia.
Saudi Arabia’s sovereign wealth fund, after Trump left office, invested $2 billion into a company founded by Jared Kushner. Kushner is Trump’s former adviser and son-in law.
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