Saudi Arabia to Invest $600 Billion in the United States - Crown Prince Mohammed bin Salman

Saudi Arabia to Invest $600 Billion in the United States - Crown Prince Mohammed bin Salman

Saudi Arabia's Crown Prince stated on Thursday that Saudi Arabia plans to invest $600 billion in the United States over the next four years. This statement comes after President Donald Trump's remarks, where he set a monetary value for Saudi Arabia's return visit as his first foreign trip.

The Saudi visit in 2017 broke the tradition for U.S. presidents, where the first foreign trip typically takes place in the United Kingdom. This visit highlighted the close relationship between President Trump's administration and the Saudi rulers, as his namesake real estate company had followed agreements throughout the region.

These comments from Crown Prince Mohammed bin Salman were made public by the Saudi Press Agency on Thursday following a phone call with Trump.

The report states, "The Crown Prince expressed Saudi Arabia’s intention to invest $600 billion and increase trade in the United States over the next four years, and this figure could increase." However, details on where and how this investment and trade will take place were not provided. In recent years, the U.S. has reduced its dependence on Saudi oil, which had once been the cornerstone of their relationship. Saudi sovereign wealth funds have now become major partners in American businesses and are investing in the sports sector as well.

There was no response from the White House regarding the phone call. However, it is unclear if Trump's call with the Crown Prince was his first communication with a foreign leader, though it was the first reported foreign call.

Crown Prince Mohammed bin Salman, who is effectively the ruler of Saudi Arabia, also spoke with U.S. Secretary of State Marco Rubio earlier on Thursday.

President Trump, after his inauguration on Monday, stated that he would likely visit Saudi Arabia again, just like he did in 2017. He told reporters, "The first foreign trip is usually supposed to be to the UK, but I went to Saudi Arabia last time because they committed to buying $450 billion worth of products from us."

The 2017 Saudi visit marked the beginning of a prolonged blockade against Qatar by four Arab countries, including Saudi Arabia.

Trump maintained a close relationship with Saudi Arabia, despite Crown Prince Mohammed being accused in the 2018 murder of Washington Post journalist Jamal Khashoggi in Istanbul. Saudi Arabia has long been in discussions with the Biden administration to strike a major deal that would offer diplomatic recognition of Israel in exchange for U.S. defense protection and other assistance.