DUBAI, United Arab Emirates — In a significant announcement made on Thursday, Saudi Arabia’s crown prince expressed the country’s intention to invest a staggering $600 billion in the United States over the next four years. This statement followed President Trump’s previous remarks regarding the financial implications of preparing for another foreign visit to the kingdom.
Trump’s 2017 visit to Saudi Arabia broke the norm of U.S. presidents traditionally visiting the United Kingdom first. This trip highlighted the close relationship between his administration and the leaders of the wealthy Gulf states, coinciding with his real estate company’s efforts to pursue business ventures throughout the region.
The remarks made by Crown Prince Mohammed bin Salman, as reported by the state-run Saudi Press Agency, surfaced during a phone conversation with Trump. This interaction marked Trump’s initial communication with a foreign leader since his inauguration earlier that week. According to reports, the crown prince confirmed the Kingdom’s commitment to enhancing investments and trade relations with the U.S., with a financial target of $600 billion, potentially surpassing that figure.
While specifics regarding the investment destinations were not disclosed, it is noteworthy that in recent times, the U.S. has shifted away from a heavy dependence on Saudi oil imports, which had historically formed the basis of their partnership. Saudi sovereign wealth funds have increasingly acquired substantial interests in various American enterprises, and the kingdom has also expressed interest in acquiring sports franchises.
Moreover, Saudi Arabia maintains a strong reliance on American-made weaponry and defense solutions, which could factor into this ambitious investment strategy.
The White House later confirmed the call and released a statement indicating that both leaders discussed vital issues concerning regional stability in the Middle East, security enhancement, and terrorism countermeasures. They also deliberated on Saudi Arabia’s aspirations for international economic advancements and explored trade opportunities intended to bolster mutual prosperity for both the U.S. and Saudi Arabia.
The crown prince, who effectively governs the oil-rich nation, also had a discussion with U.S. Secretary of State Marco Rubio shortly after. Following his inauguration, Trump indicated that he might visit Saudi Arabia again as his first foreign journey, mirroring his 2017 trip. Trump remarked at the Oval Office that the typical first visit goes to the U.K., but he had chosen Saudi Arabia because of its commitment to potentially purchasing $450 billion worth of American goods. He added that he would be inclined to visit the kingdom again if they proposed to enhance that figure in light of inflationary changes.
Regarding Trump’s potential trip to Saudi Arabia, White House Press Secretary Karoline Leavitt stated she was not aware of any concrete plans at present. Trump’s 2017 trip to the kingdom initiated a protracted boycott of Qatar by four Arab states, including Saudi Arabia.
Despite the controversies, including Prince Mohammed’s alleged involvement in the 2018 assassination of journalist Jamal Khashoggi, Trump sustained a close relationship with Saudi Arabia. Furthermore, the kingdom has been reportedly engaged in discussions with the Biden administration regarding a broader agreement to formally acknowledge Israel in exchange for U.S. defense commitments and support.
The ambitious $600 billion investment promise arrives as Saudi Arabia grapples with its economic challenges, including strained budgets stemming from low global oil prices following the pandemic’s peak. Additionally, Crown Prince Mohammed is focused on the $500 billion NEOM project, envisioned as a futuristic city in Saudi Arabia’s western desert along the Red Sea, which necessitates further investment in infrastructure and stadiums ahead of the nation hosting the FIFA World Cup in 2034.
