Saudi crown prince promises Trump $600 billion trade, investment boost

AFP | iyadh

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Saudi Crown Prince Mohammed bin Salman promised yesterday to pile $600 billion into US trade and investments as he congratulated Donald Trump on his return to the White House.

Prince Mohammed, de facto leader of the world’s biggest oil exporter, made the pledge in a phone call following Trump’s inauguration on Monday, state media said.

“The crown prince affirmed the kingdom’s intention to broaden its investments and trade with the United States over the next four years, in the amount of $600 billion, and potentially beyond that,” the Saudi Press Agency reported.

It did not give details of the source of the funds, which represent more than half of Saudi GDP, or how they are expected to be used. Prince Mohammed, 39, also passed on congratulations from his father, King Salman, during the call with Trump.

Trump’s first visit as president in 2017 was to Saudi Arabia, and this week he joked that a major financial commitment could persuade him to do the same again.

“I did it with Saudi Arabia last time because they agreed to buy $450 billion worth of our product,” he said.

Trump quipped he would repeat the visit “if Saudi Arabia wanted to buy another 450 or 500 (billion dollars) -- we’ll up it for all the inflation”.