Politics
NEW: Trump Inks $1.2T Economic Deal During Visit To Qatar
Trade deals continued to come out of President Donald Trump’s second day in the Middle East, his first trip to the region since taking office and which has already helped solidify massive investments in U.S. manufacturing and the workforce.
The deal, signed by Trump and Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani, is expected to “generate an economic exchange worth at least $1.2 trillion,” according to a fact sheet released by the White House.
Within the agreement are stipulations that Qatar Airways, the Middle East’s premier airline travel service, will purchase $96 billion worth of 210 Boeing 787 Dreamliner and 777X airplanes with GE Aerospace engines. A statement of intent signals that another $38 billion in U.S.-made defense goods may be purchased to fortify Qatar’s Al Udeid Air Base and fill other maritime security needs.
“This historic agreement will support 154,000 U.S. jobs annually, totaling over 1 million jobs in the United States during the course of production and delivery of this deal,” the White House memo states.
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In addition to the sheer volume of capital and economic activity coming with the deal, President Trump and his team are spinning the agreement as part of a holistic strategy toward greater peace in the Middle East, which has been beset with increasing conflict since the Oct. 7 attack on Israel by Hamas. Earlier this month, the White House announced that it had reached an agreement with Houthi rebels in Yemen to end their guerrilla-style attacks on U.S. cargo ships.
Other items in Wednesday’s agreement state that Raytheon, one of the largest U.S. manufacturers of defense military assets, has signed a $1 billion contract to provide Qatar with counter-drone capabilities. Seeing it through will produce “high-skilled manufacturing and engineering jobs in the United States and reinforces America’s leadership in innovative defense technologies,” the White House added.
Today’s announcement builds on the $600 billion investment announced by President Trump yesterday and committed to by Saudi Arabian officials back in February, and it’s the second sign that Trump’s ability to wine and dine alongside sultans hasn’t lost its charm since his first term and the historic signing of the Abraham Accords.
Both deals are competing for attention with another reached between the U.S. and U.K. last week, which will see steep reductions in tariffs on key U.S. agriculture, including beef, while British cars popular in the U.S., such as the Land Rover, will have swaths of their surcharges shaved off. Just days earlier, markets surged after U.S. and Chinese officials agreed to a 90-day pause on tariffs.
“As the dealmaker in chief, President Trump’s latest achievement in Qatar is another win for America,” crowed the White House announcement.
Back home, the blitz of Trump victories in the Middle East is putting aides to former President Joe Biden on the defensive as they struggle to explain why the region’s leaders gave their boss the cold shoulder for four years.
“These allegations made by anonymous sources are entirely false,” Prince Faisal of Saudi Arabia told the Wall Street Journal when asked about whether rumors were true that he and Crown Prince Mohammed bin Salman held Biden in lower regard. “The kingdom’s leaders have always held the utmost respect for U.S. presidents, based on the kingdom’s belief in the importance of having a relationship based on mutual respect.”
