Saudi Arabia’s crown prince says the kingdom wants to invest $600 billion in the United States over the next four years, comments that came after President Donald Trump mused about returning to the kingdom as his first foreign trip.
4 SAPD officers injured in Stone Oak shooting, police saySave big on self-care and jewelry with these Insider DealsFILE- President Donald Trump shakes hands with Saudi Deputy Crown Prince and Defense Minister Mohammed bin Salman during a bilateral meeting, in Riyadh, May 20, 2017.
The readout did not elaborate on where those investments and trade could be placed. The U.S. in recent years has increasingly pulled away from relying on Saudi oil exports, which once was the bedrock of their relationship for decades. Saudi sovereign wealth funds have taken large stakes in American businesses while also looking at sports as well.
The crown prince, the de facto ruler of the oil-rich kingdom, also spoke with U.S. Secretary of State Marco Rubio early Thursday. “The first foreign trip typically has been with the U.K. but ... I did it with Saudi Arabia last time because they agreed to buy $450 billion worth of our products,” Trump told journalists 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.”
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