By Emel Will Andrew Moran
RIYADH, Saudi Arabia—When President Donald Trump arrived within the Saudi capital on May 13, one in all his first actions was to tackle the Gulf’s enterprise elite, selling the United States as a chief vacation spot for funding amid a brand new period formed by his “America First” agenda.
Trump made it clear that his three-day tour of the Middle East, with stops in Saudi Arabia, Qatar, and the United Arab Emirates (UAE), could be all about making offers.
Speaking on the Saudi–U.S. Investment Forum on the King Abdul Aziz International Conference Center, Trump recommended the dominion’s transformation since his earlier go to eight years in the past.
He started his speech by saying, “I’ve come this afternoon to talk about the bright future of the Middle East, but first, let me begin by sharing the abundance of good news from a place called America.”
Trump talked about inheriting a border disaster and bringing unlawful crossings down to historic lows inside weeks, declining inflation, and practically half 1,000,000 new jobs which have been created since he took workplace. He praised commerce offers with the UK and China as main wins, noting that funding within the United States is up by 22 p.c within the first quarter and that Congress is shut to passing the most important tax and regulatory cuts in U.S. historical past, underscoring his message that now’s the precise second to spend money on the United States.
Before his ready tackle, Trump took the stage in a approach harking back to his 2024 election marketing campaign, with “God Bless the USA” enjoying. He then spoke for greater than an hour earlier than wrapping up with “Y.M.C.A.,” the track he incessantly used to shut his marketing campaign rallies.
“We are rocking,” Trump instructed the discussion board.
“The United States is the hottest country, with the exception of your country, I have to say.”
As in his first time period, Trump selected Saudi Arabia for his first state go to, signaling the strategic significance of ties with the oil-wealthy nation.
Seeking to draw multibillion-greenback investments into the United States, Trump turned to the Gulf states, dwelling to a number of the world’s largest sovereign wealth funds, as best companions to advance his financial agenda.
During the conferences in Riyadh, the dominion has dedicated $600 billion in investments throughout numerous U.S. sectors, together with synthetic intelligence (AI) information facilities, aerospace, vitality infrastructure, protection, and well being care.
“We’ve launched the Golden Age,” Trump stated.
“It’s the golden age. We see it, see it with all that cash—trillions and trillions of {dollars} pouring in.
“We will be together. We will succeed together.”
Investment and Arms Agreements
Before his remarks on the funding discussion board, Trump and Saudi Crown Prince Mohammed bin Salman signed a strategic financial partnership settlement, which incorporates a number of memoranda of understanding on vitality, mineral sources, and cooperation in protection, justice, house, and infectious ailments.
As a part of the settlement, Riyadh officers plan to allocate capital to specialised sectors, together with a $5 billion Energy Investment Fund and a $5 billion New Era Aerospace and Defense Technology Fund.
The United States will export billions of {dollars} price of gasoline generators, vitality options, and providers. Saudi Arabia can also be set to buy roughly $142 billion in superior warfighting gear and providers from greater than a dozen U.S. protection corporations. The White House described the deal because the “largest defense sales agreement in history.”
After taking workplace, Trump made it clear that his visits overseas would prioritize nations that commit to substantial funding within the United States.
The UAE earlier dedicated to a $1.4 trillion funding framework within the United States over the subsequent decade, focusing on AI and semiconductor infrastructure, the vitality sector, and manufacturing. The UAE shall be Trump’s third cease throughout his Middle East tour.
Trump touched down in Saudi Arabia with a powerful delegation. Accompanying the president had been a number of high officers and advisers, together with Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, Secretary of Energy Chris Wright, and senior aides Susie Wiles and Stephen Miller.
The crown prince greeted Trump upon his arrival on the airport with a ceremonious welcome harking back to the nice and cozy reception Trump acquired throughout his first time period.
During his bilateral assembly with the Saudi crown prince in Riyadh, Trump joked that his $600 billion funding dedication could possibly be a trillion {dollars}.
“I really believe we like each other a lot,” Trump stated.
In Riyadh, lavender carpets had been rolled out for Trump at each cease. The colour, chosen by Saudi Arabia as a nationwide image, is impressed by the lavender flowers that blanket the dominion’s deserts every spring.
After his arrival, Trump attended a excessive-degree lunch on the Saudi Royal Court with bin Salman. Dozens of U.S. executives additionally participated within the lunch assembly, underscoring the financial focus of the go to and the potential enterprise offers being negotiated.
Prominent visitors included Tesla and SpaceX CEO Elon Musk, Blackstone CEO Stephen Schwarzman, BlackRock CEO Larry Fink, Boeing President and CEO Kelly Ortberg, and OpenAI CEO Sam Altman.
Companies additionally introduced offers through the funding discussion board. Nvidia revealed that it could promote greater than 18,000 of its newest AI chips to Saudi tech agency Humain. Saudi Aramco unveiled a $3.4 billion funding plan to improve its Motiva refinery in Texas. Musk introduced that Saudi Arabia authorised the usage of Starlink for its maritime and aviation sectors.
Regional Security
During his tackle to the discussion board, Trump praised the transformation of Riyadh underneath the management of King Salman and the crown prince, calling it “truly extraordinary.”
Saudi Arabia and different Gulf nations have shifted from oil-dependent economies to diversified industries, together with excessive-tech, in accordance to Trump.
The president stated that this transition would lead to a future wherein the area is “defined by commerce, not chaos” and “exports technology, not terrorism.”
“After so many decades of conflict, finally it is within our grasp to reach the future that generations before us could only dream about—a land of peace, safety, harmony, opportunity, innovation, and achievement right here in the Middle East,” he stated.
In a transfer that garnered sustained applause, Trump confirmed that he would order the cessation of sanctions in opposition to Syria. He stated he plans to greet Syrian President Ahmed al-Shara—who led the ousting of former chief Bashar al-Assad in December 2024—on May 13.
The United States has imposed punishing restrictions on Syria within the wake of a civil struggle that started in 2011 there. Past presidents have tried to stress the federal government to halt violence in opposition to residents and advocate for political reforms.
The new Syrian chief, Ahmed al-Sharaa, who has previous hyperlinks to terrorist organizations, has vowed to be a reasonable chief and pursue diplomatic ties with Western nations. Since acquiring energy, al-Sharaa has adopted a number of reforms that advance free speech, freedom of the press, and girls’s political and financial rights.
He not too long ago met with French President Emmanuel Macron over unwinding sanctions on Damascus.