Saudi Prince announces $600bln investment in the U.S. during call with Trump

This comment marked Trump’s first call with a foreign leader since his inauguration Monday

Saudi Arabia’s Crown Prince has announced that the kingdom aims to invest $600 billion in the United States over the next four years. This statement follows President Donald Trump’s earlier remarks about the financial implications of returning to Saudi Arabia as his first foreign visit.

Trump’s trip to Saudi Arabia in 2017 broke the long-standing tradition of U.S. presidents visiting the United Kingdom first. It also highlighted the close relationship his administration developed with the leaders of the oil-rich Gulf states, coinciding with his real estate company’s pursuit of deals in the region.

The comments from Crown Prince Mohammed bin Salman, reported by the state-run Saudi Press Agency, emerged during a phone call with Trump, which was the first interaction between the president and a foreign leader since his inauguration on Monday.

«The crown prince confirmed the kingdom’s commitment to expanding its investments and trade with the United States over the next four years, totaling $600 billion with the potential for even greater amounts,» the report stated.

While the statement did not specify the sectors for these investments, it noted that the U.S. has gradually reduced its dependency on Saudi oil exports, which historically formed the foundation of their relationship. Additionally, Saudi sovereign wealth funds have invested heavily in American companies and are exploring opportunities in the sports industry.