US President Donald Trump secured a $600 billion commitment from Saudi Arabia on Tuesday to invest in the United States after the oil power rolled out the red carpet for him at the start of a tour of Gulf states.
Trump punched the air as he emerged from Air Force One to be greeted by Prince Mohammed bin Salman, who later signed an agreement with the president in Riyadh on energy, defence, mining, and other areas.
Saudi Arabia’s investment commitment includes what the US described as the largest defence sales agreement between the allies, worth nearly $142 billion.
“I believe we like each other a lot,” Trump said during a meeting with the crown prince, Saudi Arabia’s de facto ruler.
Trump, who is accompanied by US business leaders including billionaire Elon Musk, will go on from Riyadh to Qatar on Wednesday and the United Arab Emirates on Thursday.
“While energy remains a cornerstone of our relationship, the investments and business opportunities in the kingdom have expanded and multiplied many, many times over,” Saudi Investment Minister Khalid al-Falih told a US-Saudi investment forum.
“As a result … when Saudis and Americans join forces very good things happen, more often than not great things happen when those joint ventures happen,” he said before Trump’s arrival.
Trump called the Saudi crown prince a friend and said they have a good relationship, according to a pool report from the Wall Street Journal, adding that Saudi investment would help create jobs in the US.
