U.S. President Donald Trump revealed on Thursday his intention to make an official visit to Saudi Arabia to finalize a deal worth one trillion dollars. He noted that the Saudis “have become wealthier” since his first visit to Riyadh during his first presidential term.
During a conversation with journalists at the White House Oval Office, Trump mentioned that the visit is likely to take place within the next month and a half.
According to Reuters, the purpose of the visit is to seal an agreement under which Saudi Arabia would invest up to one trillion dollars into the U.S. economy, including by purchasing military equipment.
The U.S. president recalled his first overseas trip in 2017, where he traveled to Saudi Arabia to announce Saudi investments, which at that time were estimated at around $350 billion.
Trump told the journalists: “This time, they’ve become wealthier, and we’ve all gotten older,” adding that the Saudis are ready, at his request, to invest one trillion dollars over the next four years in American companies, including purchasing American military equipment.
He continued, saying, “They’ve agreed to do it, so I’ll be going there, and I have a great relationship with them. They’ve been very kind.”
After taking office in January, Trump discussed his first foreign destination during his second term, suggesting that he might visit Saudi Arabia if a new deal worth $500 billion is finalized.
In response to a question about his first foreign destination, Trump said, “Traditionally, the first foreign visit is to the UK, but I made it to Saudi Arabia during my first term because they agreed to buy American products worth $450 billion.”
During the conversation with journalists in the Oval Office while signing several executive orders, he mentioned that he may go back to Saudi Arabia if they promise him $500 billion this time, taking inflation into account.
Following that, Saudi Crown Prince Mohammed bin Salman confirmed during a call with the U.S. president the kingdom’s desire to expand its investments and trade relations with the United States over the next four years, amounting to $600 billion, with the potential for growth if additional opportunities arise.
In May 2017, Trump traveled to Saudi Arabia for his first foreign visit after taking office as president, succeeding Barack Obama. He later boasted about his “hundreds of billions of dollars in deals” achieved with Riyadh during that visit.
