Politics
TRUMP EFFECT: Saudi Arabia Announces $600 Billion In New U.S. Investment, Trade
Saudi Arabian Crown Prince Mohammed bin Salman told President Donald Trump that Saudi Arabia wants to move forward with $600 billion into expanded investment and trade with the United States over the next four years, according to a report from the Saudi State news agency.
In a phone call between the two leaders, bin Salman said the Trump Administrations policies could create “unprecedented economic prosperity” for both nations, the state news agency reported. According to the report, Saudi Arabia is much more optimistic about strong U.S. ties under the Trump presidency after an often icy relationship with the Biden Administration.
While on the campaign trail in 2019, then-candidate Joe Biden claimed he would never shake hands with bin Salman and vowed to make Saudi Arabia a “pariah” on the world stage due to numerous human rights violations. This never materialized, as Biden met with the Saudi leader in 2022 and gave him a fist-bump rather than a handshake.
The crown prince was not impressed with Biden, however, according to a 2022 report from the Wall Street Journal. The president’s declining mental state reportedly became a subject of mockery among bin Salman and his associates during their meeting in Jeddah, which took place just weeks after Biden attempted to greet a recently deceased congresswoman at a campaign stop.
Numerous sources close to the Saudi government told the outlet that bin Salman was eagerly anticipating a potential Trump return to the White House at the time, though the Saudi government denied the reports about mocking Biden. “These allegations made by anonymous sources are entirely false,” Prince Faisal said in a statement at the time. “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.”
President Donald Trump speaks with Mohammed bin Salman, Deputy Crown Prince of Saudi Arabia, during their meeting Tuesday, March 14, 2017, in the Oval Office of the White House in Washington, D.C. (Official White House Photo by Shealah Craighead)
The recent investment plans appear to suggest that the Saudi government is more comfortable with Trump leading the United States, as the two leaders had an amicable relationship during President Trump’s first term in the White House.
The report from the Saudi State news agency did not specify where exactly the $600 billion would be going whether it would be public or private spending nor how the money would be deployed. The investment “could increase further if additional opportunities arise,” bin Salman reportedly told Trump during a phone call shortly after his inauguration.
While speaking with reporters a few days after the inauguration, Trump suggested that Saudi Arabia could be his first international visit if Riyadh agrees to buy $500 billion worth of American products, a similar promise he made during his first term.
“I did it with Saudi Arabia last time because they agreed to buy $450 billion worth of our product. I said I’ll do it but you have to buy American product, and they agreed to do that,” the president said in reference to his 2017 visit to the kingdom.
