Saudi Arabia’s Minister of Finance Mohammed Aljadaan and U.S. Secretary of the Treasury Scott Bessent emphasized the importance of strengthening the economic partnership between the Kingdom of Saudi Arabia and the United States during a panel session titled “Striking Balance: Coordinating Fiscal and Monetary Actions,” held as part of the 2025 Saudi-U.S. Investment Forum.
Aljadaan highlighted the historic relations between the two countries, which span over 90 years, noting that the volume of Saudi investments in the United States is substantial and reflects the strength of their economic ties.
He stated that Saudi Arabia has seen a growing inflow of U.S. investments since the launch of Saudi Vision 2030, emphasizing that the partnership between the two nations serves mutual interests and contributes to reducing reliance on oil.
Bessent spotlights U.S.-China trade deal
During the Saudi-U.S. Investment Forum, Aljadaan also stressed that the Kingdom is keen to exchange expertise and transfer knowledge from the U.S. in a manner that supports national economic development and strengthens the Kingdom’s regional and global standing.
Earlier during the forum, Saudi Arabia’s Minister of Communications and Information Technology Abdullah Alswaha noted that between 2024 and 2025, Saudi Arabia attracted over $13 billion in U.S. investments—more than 90 percent of all international investments in AI, data centers and cloud services. These investments were made in partnership with major tech companies such as AWS, Microsoft, Google Cloud, Oracle and Groq.
For his part, Bessent expressed pride in his country’s close relationship with the Kingdom and voiced optimism about the future of global trade. He noted that the agreements signed will contribute to tangible economic improvement, reiterating that the U.S. administration is working to open the Chinese market to American products to restore balance to the global economy.
Commenting on the weekend’s U.S. trade talks with China, Bessent said: “It was very constructive. Both sides came with a clear agenda, shared interest, we had great mutual respect and I think what we were able to establish, as President Trump and the administration began the tariff program, we had a plan, we had a process and what we did not have with the Chinese was a mechanism.”
“After this weekend, we have a mechanism to avoid escalation like we had before. We both agreed to bring tariffs down 115 percent, which I think is very productive because where we were with 145 percent and 125 percent was the equivalent of an unintended embargo. That is not healthy for the two largest economies in the world, it is not healthy for the rest of the world, so I think we can proceed from here,” he added.
Investment minister highlights Saudi-U.S. ties
During the Saudi-U.S. Investment Forum, Investment Minister Khalid al-Falih said that while energy remains a cornerstone of the relationship between Saudi Arabia and the U.S., investments and business opportunities in the Kingdom have expanded and multiplied.
“As a result … when Saudis and Americans join forces, very good things happen, more often than not great things happen when those joint ventures happen,” he said.
Commending Saudi Arabia’s transformation under Vision 2030, BlackRock CEO Larry Fink said: “The Kingdom is now taking responsibility for itself. I would say 20 years ago, the Kingdom was a follower and maybe lacking self-confidence in its own self. And I think around Vision 2030 was really a statement around taking control, taking responsibility, broadening the economy from just an oil-based economy and expanding from and downstreaming, but then beyond focusing on things like tourism, focusing on the expansion of its capital markets.”
Fink was not the only business leader accompanying Trump on his visit to Saudi Arabia. Other prominent figures accompanying the president included OpenAI CEO Sam Altman, FIFA President Gianni Infantino, Nvidia CEO Jensen Huang, President and Chief Investment Officer of Alphabet and Google Ruth Porat, IBM CEO Arvind Krishna and Palantir CEO Alex Karp.
Key milestone in the strategic Saudi-U.S. partnership
Saudi-U.S. Business Council CEO Charles Hallab highlighted the current visit of Trump to Saudi Arabia as a reflection of the firm and enduring relationship with the U.S. In remarks to the SPA, Hallab stated that the visit marks a significant milestone in a strategic partnership that has spanned over 90 years, characterized by mutual respect, shared interests, and strong ties across political, economic, and security domains.
He noted that the next phase of cooperation offers promising opportunities in key sectors such as technology, innovation, and human capital development, particularly in emerging fields like artificial intelligence, digital infrastructure, advanced manufacturing and clean energy. Hallab also emphasized that such partnerships will complement joint initiatives in educational excellence, skills transfer, workforce development, and the promotion of knowledge and innovation exchange.
Bilateral trade hits $32 billion in 2024
Hallab also pointed to the strength of commercial relations between the two countries, noting that bilateral trade reached nearly $32 billion in 2024. This included prominent sectors such as machinery, vehicles, pharmaceuticals, chemicals and fertilizers, highlighting the breadth and diversification of Saudi-U.S. trade ties.
Hallab added that through the Public Investment Fund, Saudi investments in the United States have expanded significantly in strategic sectors such as technology, manufacturing, logistics and renewable energy. These investments contribute to job creation, innovation and the strengthening of supply chains, supporting sustainable growth in both nations.
