Saudi Arabia's crown prince announced plans to invest $600 billion in the United States over the next four years. The announcement followed a phone call with President Donald Trump, where the crown prince expressed the kingdom's intention to expand investments and trade with the U.S. The specifics of these investments and trade agreements were not disclosed in the report.
In recent years, the U.S. has reduced its reliance on Saudi oil exports, shifting towards other economic sectors. Saudi sovereign wealth funds have made significant investments in American businesses and sports ventures.
While details of the call between the crown prince and President Trump were not immediately released by the White House, it is believed to be Trump's first reported conversation with a foreign leader since his return to office. The crown prince also engaged in discussions with U.S. Secretary of State regarding bilateral relations.
President Trump mentioned the possibility of visiting Saudi Arabia as his first foreign trip, similar to his 2017 visit. During the previous visit, agreements were made for Saudi Arabia to purchase billions of dollars worth of American products. Trump hinted at the potential for further economic deals with the kingdom.
It is worth noting that Trump's 2017 visit to Saudi Arabia led to a diplomatic rift in the region, resulting in a boycott of Qatar by several Arab nations, including Saudi Arabia.
