Dubai, United Arab Emirates – Saudi ArabiaThe crown prince said Thursday that the kingdom wants to invest $600 billion in the United States over the next four years, comments that came after President Trump made his first foreign trip expensive to return to the kingdom.
Mr. Trump's 2017 visit to Saudi Arabia changed the tradition when US presidents first traveled to the United Kingdom as their first foreign trip. It also highlighted his administration's close ties to the leaders of the oil-rich Gulf states, as his eponymous real estate company also made deals in the region.
Crown Prince Mohammed bin Salman's comments, reported early Thursday by Saudi Arabia's state-run news agency, came in a phone call with Mr. Trump.
“The crown prince confirmed the kingdom's intention to expand its investment and trade with the United States over the next four years to the tune of $600 billion and potentially beyond,” the report said.
Reading did not elaborate on where those investments and trades might be located. In recent years, the U.S. has increasingly moved away from Saudi Arabia's reliance on oil exports, which have been the backbone of its relationship for decades. Saudi sovereign wealth funds have taken large stakes in American businesses. while also playing sports.
Saudi Arabia, however, relies heavily on US-made weapons and defense systems, which may be part of the investment.
There was no immediate word on the call from the White House. It was also not immediately clear whether Mr. Trump's call with the crown prince was the first since he re-entered the White House. However, it was the first such call to be reported.
The crown prince, the de facto ruler of the oil-rich kingdom, also spoke with US Secretary of State Marco Rubio early Thursday morning.
After his inauguration on Monday, Mr. Trump spoke of possibly returning to the kingdom as his first foreign trip, as he did in 2017.
“The first overseas trip is usually with the UK, but … I did it with Saudi Arabia last time because they agreed to buy $450 billion of our products,” Mr Trump told reporters in the Oval Office billion dollars or $500, we'll add it up for all the inflation, I think I'd probably go.”
The 2017 visit to the kingdom kicked off a long-running boycott of Qatar by four Arab countries, including the kingdom.
Mr Trump maintained close ties with Saudi Arabia even after Prince Mohammed was involved in the 2018 killing and dismemberment Washington Post columnist Jamal Khashoggi in Istanbul. The kingdom has also been talking about a broader deal with the Biden administration for years recognize Israel In exchange for US defense and other support.
The $600 billion pledge, which dents the gross domestic product of many countries, also comes as the kingdom faces budget pressures of its own.
Meanwhile, Prince Mohammed also wants to push ahead with his $500 billion project at NEOM, a new city in Saudi Arabia's western desert on the Red Sea, which is also due to build tens of billions of dollars worth of new stadiums and infrastructure before hosting the 2034 World Cup. :
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