Crown Prince Mohammed bin Salman of Saudi Arabia informed President Trump on Wednesday that the kingdom plans to increase its investment and trade with the United States by at least $600 billion over the next four years, as reported by the official Saudi Press Agency.
President Trump has expressed his commitment to accelerating investment in the United States, particularly to revitalize manufacturing. He has also warned of potential retaliation, including tariffs, against any governments perceived as acting against U.S. interests.
The crown prince, who serves as the de facto leader of Saudi Arabia, indicated to Mr. Trump that his administration has the potential to create “unprecedented economic prosperity” in the U.S. and that Saudi Arabia wishes to be a part of this initiative, according to the Saudi Press Agency.
There was no immediate confirmation of the call from the White House.
This commitment from Saudi Arabia comes after notable public displays of support for Mr. Trump from major tech companies and influential executives in Silicon Valley. During his campaign last year, he stated his intention to utilize a combination of tax cuts and tariffs to incentivize companies to invest domestically.
On Tuesday, Mr. Trump announced Stargate, a joint venture involving OpenAI, SoftBank, and Oracle, aimed at creating at least $100 billion in artificial intelligence infrastructure, with potential investments reaching up to $500 billion over four years.
Saudi Arabia was Mr. Trump’s first destination during his inaugural foreign trip as president in 2017, where he sought significant deals with the kingdom, including arms sales.
In remarks to reporters in the Oval Office on Monday, Mr. Trump recalled that Saudi Arabia was his first foreign stop during his previous term because “they agreed to buy $450 billion worth of our product.” He added that if Saudi Arabia wished to purchase an additional $450 or $500 billion, he would consider visiting again, adjusting for inflation.
Throughout his presidency, Mr. Trump maintained a positive relationship with the crown prince, despite the C.I.A.’s conclusion that he likely ordered the killing and dismemberment of journalist Jamal Khashoggi in 2018.
During the campaign trail last year, Mr. Trump granted his only interview with an Arabic-language news outlet to Al Arabiya, a Saudi-owned broadcaster, where he expressed “so much respect for Mohammed, who is doing so great.”