DUBAI, United Arab Emirates — On Thursday, the Crown Prince of Saudi Arabia announced the kingdom’s intention to invest a substantial $600 billion into the United States over the next four years. This announcement coincided with remarks made by President Donald Trump, who hinted at a potential return to Saudi Arabia for his first official overseas visit since taking office.
Trump’s initial trip to Saudi Arabia in 2017 broke the long-standing tradition of U.S. presidents visiting the United Kingdom first on their foreign excursions. This shift highlighted the Trump administration’s efforts to cultivate strong relationships with Gulf states, particularly as his real estate enterprise sought business opportunities within the region.
According to a report by the Saudi Press Agency, which detailed a phone conversation between Trump and Crown Prince Mohammed bin Salman, the Crown Prince reiterated his desire to enhance trading ties and foreign investments from Saudi Arabia to the U.S. The report conveyed the Crown Prince’s optimistic prospects for a $600 billion investment within a four-year timeframe, with hints that the total could exceed that amount.
The specifics of how and where these investments would be allocated were not disclosed. Notably, the United States has been gradually moving away from a dependence on Saudi oil exports, which historically formed the basis of their relationship. However, Saudi sovereign wealth funds have been active players in acquiring significant ownership stakes in various American enterprises, while also showing interest in the sports sector.
Moreover, Saudi Arabia largely depends on American-made defense supplies. This military angle could play a crucial role in the upcoming investment strategy.
The White House verified the nature of the conversation, stating that both leaders discussed various topics, including efforts to stabilize the Middle East, enhance regional security, and tackle terrorism. They also touched upon Saudi Arabia’s economic ambitions and explored partnerships that could foster mutual benefits for both nations.
In addition to Trump, the Crown Prince had a discussion with U.S. Secretary of State Marco Rubio shortly after. Trump had previously expressed interest in repeating his trip to Saudi Arabia as part of his foreign travel itinerary, mirroring his 2017 experience.
Traditionally, the first overseas visit for U.S. presidents has been to the U.K., but Trump noted his past decision to choose Saudi Arabia, as they pledged to purchase $450 billion worth of American goods and services. He remarked, “If Saudi Arabia wanted to buy another $450 billion or $500 — we’ll up it for all the inflation — I think I’d probably go.”
While specific sales numbers were not provided, in a 2018 meeting in the White House, Trump had shared a poster showcasing $12.5 billion in finalized weapon sales to Saudi Arabia, a moment that featured light-hearted interactions with the Crown Prince.
Regarding a potential visit to Saudi Arabia this term, White House press secretary Karoline Leavitt stated there are currently no known plans for such a trip.
Trump’s prior visit to the kingdom had far-reaching consequences, including triggering a prolonged boycott of Qatar by Saudi Arabia and three other Arab nations. The ex-president maintained close ties with Saudi Arabia, even amid international controversy regarding the involvement of the Crown Prince in the 2018 murder of journalist Jamal Khashoggi.
Additionally, the kingdom has been engaged in discussions with the current Biden administration about a prospective diplomatic agreement to recognize Israel in exchange for assured U.S. defense support and other forms of assistance.
The ambitious $600 billion investment initiative, which surpasses the gross domestic product of many countries, comes as Saudi Arabia faces significant fiscal pressures. Ongoing low global oil prices, stemming from the aftermath of the COVID-19 pandemic, have adversely impacted the nation’s financial resources.
Prince Mohammed is also pushing forward with his vision for NEOM, a transformative $500 billion project planned for the Saudi Arabian desert, while preparing for the logistical demands of hosting the 2034 FIFA World Cup, which will require substantial investment in infrastructure and sports facilities.
