Washington (TDI): US President Donald Trump said on Thursday he likely will make his first trip abroad to Saudi Arabia to reach a deal with Riyadh to invest upwards of $1 trillion in the US economy, including purchases of military equipment.
Talking to media in the Oval Office, Trump stated he would probably travel to Saudi Arabia in the next month and a half.
He noted that the first overseas visit of his first term was to Riyadh in 2017 to announce Saudi investments estimated then to be worth $350 billion.
Trump said, “This time, they have gotten richer, we have all gotten older,”.
He said that, at his behest, the Saudis were ready to invest $1trillion over four years in US companies including purchases of US military equipment, Reuters reported.
“And they have agreed to do that, so I’m going to be going there, and I have a great relationship with them, and they have been very nice,” Trump said.
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Saudi Arabia has been taking a more prominent role in American foreign policy.
Trump’s Middle East special envoy Steve Witkoff told journalists the Saudis will host a US-Ukraine meeting next week to discuss a ceasefire in the Ukraine war.
In February, Trump met with officials of the PGA Tour and the Saudi-owned LIV Golf about resolving a conflict between the two.
Jared Kushner, the president’s son-in-law and Middle East adviser during his first tenure, started a private equity company that received $2 billion in Saudi investment after Trump left office.
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Trump has also recently presided over a string of announcements about firms investing heavily in the American economy, including Taiwan Semiconductor Manufacturing and Apple.
US President Donald Trump inked an executive order to establish a strategic bitcoin reserve, a day before he received executives from the cryptocurrency industry at the White House.
