On Thursday, Saudi Arabia ‘s Crown Prince announced a plan to invest $600 billion in the United States over the next four years.
This announcement follows President Donald Trump’s recent comments about potentially visiting the kingdom first if reelected.
Trump’s 2017 trip to Saudi Arabia broke the tradition of U.S. presidents visiting the United Kingdom first.
This visit underscored the close ties between his administration and Saudi leadership.
During a phone call with Trump, Crown Prince Mohammed bin Salman confirmed the investment plans, as reported by the Saudi Press Agency.
The readout from the call did not specify the areas for these investments or trade opportunities.
The U.S. has increasingly reduced its dependence on Saudi oil, which historically formed the basis of their relationship.
Meanwhile, Saudi Arabia’s sovereign wealth funds have invested significantly in American companies and expanded into the sports sector.
Saudi Arabia continues to rely on U.S.-made weapons and defense systems, which may influence these planned investments.
The White House has not yet commented on the call, leaving it unclear if this was Trump’s first conversation with a foreign leader since returning to office.
However, it was the first reported internationally.
Following his inauguration, Trump reiterated the possibility of making Saudi Arabia his first foreign trip, similar to his 2017 visit.
That visit contributed to a yearlong blockade of Qatar by four Arab nations, including Saudi Arabia.
Despite international backlash, Trump maintained strong relations with the kingdom, even after the crown prince’s involvement in journalist Jamal Khashoggi’s murder.
Ongoing Diplomatic Discussions
Saudi Arabia has engaged with the Biden administration regarding a broader agreement to establish diplomatic ties with Israel, seeking U.S. defense guarantees in return.
Trump noted, “The first foreign trip typically has been with the U.K., but I did it with Saudi Arabia last time because they agreed to buy $450 billion worth of our products.”
In the readout from the call, the Saudi government stated that the crown prince emphasized the kingdom’s intention to expand investments and trade with the U.S., aiming for $600 billion, potentially exceeding that amount.
Saudi Arabia’s $600 billion investment commitment surpasses the GDP of many nations and arrives amid the kingdom’s financial challenges.
Global oil prices have struggled to rebound post-pandemic, affecting Saudi revenues and fiscal stability.
The crown prince also aims to advance NEOM, a $500 billion futuristic city in the western desert, while preparing for the costly infrastructure needed for the 2034 FIFA World Cup.