Saudi Crown Prince Mohammed bin Salman told President Donald Trump on Tuesday that Saudi Arabia will be upping its investment commitment in the U.S. to nearly $1 trillion, up from the $600 billion pledged in May.
Trump received the crown prince on the South Lawn with plenty of pomp, culminating in three F-35s and three F-15s flying over the White House.
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After giving the crown prince a tour of the “Presidential Walk of Fame” along the West Wing colonnade and a photo opportunity, they held a bilateral meeting before reporters in the Oval Office.
“I believe, Mr. President, today and tomorrow, we’re going to announce that we are going to increase that $600 billion to almost $1 trillion of investment, real investment, and real opportunity by details in many areas,” the crown prince said.
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“And the agreement that we are signing today in many areas of technology, [artificial intelligence], and materials, magnets, etc, that will create a lot of domestic opportunities,” he added.
Trump, who moments earlier said he would like to see the Saudi investment rise to $1 trillion and joked he would need to work on the crown prince, was pleased.
WATCH — President Trump Meets with Saudi Crown Prince:
“I appreciate that. That’s great. We’re doing numbers that nobody’s ever done. And in all fairness, if you didn’t see potential in the U.S., you wouldn’t be doing it….You don’t want to lose money,” Trump said.
The crown prince said the United States is the “hottest country on the planet” under Trump and that the president is setting the stage for a long-term economic opportunity.
“It’s about also long-term opportunity in United States of America to effect American economy positively in the next coming decades, preparing the…foundation of emerging technologies that’s a game changer for America in a good way. And want to be part of it,” he said.
A senior White House official said the crown prince’s visit on Tuesday is expected to include a multibillion-dollar investment in American AI infrastructure, enhanced cooperation between the countries on civil nuclear energy, fulfillments of Saudi Arabia’s original $600 billion commitment in May, and defense sales to strengthen defense cooperation between the countries.
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