Saudi Crown Prince Mohammed bin Salman informed President Donald Trump that Saudi Arabia plans to invest $600 billion into enhancing trade and investment with the United States over the next four years, according to the Saudi State news agency on Thursday.
During a phone call, the crown prince mentioned that the expected reforms by the Trump administration could lead to “unprecedented economic prosperity,” and Saudi Arabia aims to take advantage of these developments. However, the report did not clarify whether the $600 billion would come from public or private sectors or how it would be allocated.
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The investment amount could increase if new opportunities arise, Bin Salman conveyed to Trump. Trump had previously fostered strong relationships with Gulf countries, particularly Saudi Arabia, during his first term. After leaving office, he also helped a firm backed by his son-in-law, Jared Kushner, receive a $2 billion investment from the kingdom.
Trump mentioned in his inauguration speech that he would consider visiting Saudi Arabia first if the kingdom agreed to purchase $500 billion worth of American products, similar to an agreement made during his previous term. He referenced his 2017 visit to Saudi Arabia, where the kingdom agreed to buy $450 billion worth of U.S. products.
Meanwhile, Trump put pressure on Russian President Vladimir Putin to reach a peace agreement with Ukraine, threatening to impose stricter economic measures if Moscow does not end the war. Trump’s statement came as he sought to find a quick resolution to the ongoing conflict, which he had promised to address during his second term. He posted on Truth Social, saying, “If we don’t make a ‘deal’ soon, I will have no other choice but to impose high taxes, tariffs, and sanctions on Russian goods sold to the U.S. and other countries involved.”
While expressing admiration for Putin, Trump emphasized that Russia’s economy was struggling and urged Putin to settle the conflict, warning that the situation would worsen if left unresolved. He stated, “Let’s end this war, which never should have started if I were President. We can do it the easy way or the hard way – and the easy way is always better.”
Russia is already under heavy U.S. sanctions due to the war in Ukraine, and trade has sharply declined. U.S. imports from Russia dropped significantly from $4.3 billion in the first 11 months of 2023 to $2.9 billion in the same period in 2024, with key imports being fertilizers and precious metals.
This is Trump’s firmest stance on Putin since returning to office, despite concerns that he might pressure Ukraine to negotiate a peace deal instead. At a White House press conference, Trump only indicated that additional sanctions might be imposed if Putin failed to engage in negotiations, but he refrained from discussing whether he would continue Biden’s policy of sending military aid to Ukraine.