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The Saudis announced an investment of 600 billion dollars in the USA

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The Saudis announced an investment of 600 billion dollars in the USA
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The Saudi crown prince said today that Saudi Arabia plans to invest $600 billion (€577 billion) in the United States over the next four years.

He said this after President Donald Trump had previously hinted at the high cost of returning to the kingdom as his first foreign destination, reports AP, Index reports.

Trump’s visit to Saudi Arabia in 2017 broke the tradition of US presidents usually traveling to the United Kingdom first. The move underscored his administration’s close ties to the rulers of the oil-rich Gulf states, while Trump’s eponymous real estate firm has also made deals across the region.

Crown Prince Mohammed bin Salman’s comments, reported early today by the state-run Saudi News Agency, were made during a phone call with Trump.

“The crown prince confirmed the kingdom’s intention to expand its investment and trade with the United States over the next four years, to the tune of $600 billion, and potentially more,” the report said.

The report did not specify where those investments and trade might be directed. In recent years, the US has been increasingly moving away from its dependence on Saudi oil exports, which has been the foundation of their relationship for decades. Saudi sovereign wealth funds have invested heavily in US companies, while also exploring investment opportunities in sports.

However, Saudi Arabia still relies heavily on American weapons and defense systems, which could be part of the aforementioned investment.

The White House did not immediately release a statement about the conversation. It was also unclear whether Trump’s conversation with the crown prince was his first with a foreign leader since returning to the White House. However, it was the first recorded conversation with a foreign country.

The crown prince, de facto ruler of the oil-rich kingdom, also spoke with US Secretary of State Marco Rubio early this morning.

On Monday, after the inauguration, Trump mentioned the possibility of going to the kingdom again as his first foreign destination, similar to what he did in 2017.

“The first foreign visit is usually to the United Kingdom, but … Last time I went to Saudi Arabia 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 or $500 billion in product — we’ll adjust for inflation — I’d probably go.”

(Vijesti.ba)


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