Saudi Crown Prince Mohammed bin Salman said on Thursday that Saudi Arabia plans to invest $600 billion in the United States over the next four years. His remarks were reported by the state-run Saudi Press Agency after he spoke by phone with President Donald Trump.
The crown prince, according to reports from the agency, emphasized plans for the kingdom to expand its investments and trade with the U.S. over the next few years. “The crown prince confirmed the intention of the kingdom to expand investments and trade with the United States over the next four years, in the amount of $600 billion, and possibly beyond that,” said the agency.
The report did not detail which sectors the investments and trade would target. In recent years, the U.S. has reduced its reliance on Saudi oil exports, which once served as the cornerstone of bilateral relations. Meanwhile, Saudi Arabia’s sovereign wealth funds have increasingly acquired stakes in American businesses and explored opportunities in sports.
Following a statement by President Trump earlier this week about a possibility of making Saudi Arabia his first foreign visit since entering office this term, which he did in 2017, the crown prince has called for talks. “The first foreign trip typically has been with the UK but. I did it with Saudi Arabia last time because they agreed to buy $450 billion worth of our products, Trump told reporters in the Oval Office. If Saudi Arabia wanted to buy another $450 billion or $500-we’ll up it for all the inflation-I think I’d probably go.
There was no immediate response from the White House regarding the phone call, leaving it unclear whether this was Trump’s first interaction with a foreign leader since re-entering the White House. However, it is the first such call reported internationally.
Early Thursday, the crown prince spoke with U.S. Secretary of State Marco Rubio, further highlighting the kingdom’s focus on strengthening ties with the United States.
Trump’s visit to Saudi Arabia in 2017 was a defining moment in U.S.-Saudi relations, as it led to a blockade of Qatar by four Arab nations, including Saudi Arabia, that lasted for years.