Saudi crown prince says kingdom intends to take a position $600 billion in U.S. throughout name with Trump

President Donald Trump shakes palms with Saudi Deputy Crown Prince and Protection Minister Mohammed bin Salman throughout a bilateral assembly, in Riyadh, Could 20, 2017. File
| Picture Credit score: AP

Saudi Arabia’s crown prince mentioned on Thursday (January 23, 2025) the dominion needs to take a position $600 billion in america over the subsequent 4 years, feedback that got here after President Donald Trump earlier put a price ticket on returning to the dominion as his first international journey.

Mr. Trump’s 2017 journey to Saudi Arabia upended a convention of U.S. presidents first heading to the UK as their first journey overseas. It additionally underscored his administration’s shut ties to the rulers of the oil-rich Gulf states as his eponymous actual property firm has pursued offers throughout the area as effectively.

The feedback from Crown Prince Mohammed bin Salman, reported early on Thursday (January 23, 2025) by the state-run Saudi Press Company, got here in a telephone name with Trump.

Saudi Arabia’s dependence on U.S.-made weapons and protection methods

“The crown prince affirmed the dominion’s intention to broaden its investments and commerce with america over the subsequent 4 years, within the quantity of $600 billion, and probably past that,” the report mentioned.

The readout didn’t elaborate on the place these investments and commerce may very well be positioned. The U.S. lately has more and more pulled away from counting on Saudi oil exports, which as soon as was the bedrock of their relationship for many years. Saudi sovereign wealth funds have taken massive stakes in American companies whereas additionally sports activities as effectively.

Saudi Arabia does, nevertheless, rely predominantly on U.S.-made weapons and protection methods, which may very well be part of the funding.

There was no quick readout from the White Home on the decision. It additionally wasn’t instantly clear if Trump’s name with the crown prince was his first with a international chief since re-entering the White Home. Nevertheless, it was the primary reported overseas.

The crown prince, the de facto ruler of the oil-rich kingdom, additionally spoke with U.S. Secretary of State Marco Rubio early Thursday.

On Monday after his inauguration, Mr. Trump talked about probably heading to the dominion once more as his first international journey, like he did in 2017.

“The primary international journey sometimes has been with the U.Ok. however … I did it with Saudi Arabia final time as a result of they agreed to purchase $450 billion value of our merchandise,” Mr. Trump instructed journalists within the Oval Workplace. “If Saudi Arabia needed to purchase one other $450 billion or $500 — we’ll up it for all of the inflation — I believe I’d in all probability go.”

The 2017 go to to the dominion set in movement a yearslong boycott of Qatar by 4 Arab nations, together with the dominion.

Mr. Trump maintained shut relations with Saudi Arabia, even after Prince Mohammed was implicated within the 2018 killing and dismemberment of Washington Put up columnist Jamal Khashoggi in Istanbul. The dominion additionally had been speaking for years with the Biden administration a few wider deal to diplomatically acknowledge Israel in alternate for U.S. protection protections and different help.

The $600 billion pledge, which dwarves the gross home product of many countries, additionally comes as the dominion faces budgetary pressures of its personal. World oil costs stay depressed years after the peak of the coronavirus pandemic, affecting the dominion’s revenues.

In the meantime, Prince Mohammed additionally needs to proceed his $500 billion venture at NEOM, a brand new metropolis in Saudi Arabia’s western desert on the Crimson Sea. It additionally might want to construct tens of billions of {dollars}’ value of recent stadiums and infrastructure forward of it internet hosting the 2034 FIFA World Cup.