U.S. President Donald Trump arrived in Saudi Arabia on Tuesday to start a four-day Gulf tour and his focus remains on trillion-dollar economic deals and investments. American business leaders, including Tesla CEO Elon Musk, will join Trump in his first stop in Riyadh, where the Saudi-U.S. Investment Forum is currently taking place. The delegation will then continue to Qatar on Wednesday and the UAE on Thursday.
In addition to Musk, the CEOs of Blackrock, Citigroup, IBM, Boeing, Delta Airlines, American Airlines, and United Airlines, will attend the Saudi-U.S. investment forum.
Trump also said he might travel on Thursday to Turkey for potential face-to-face talks between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy.
Trillion-dollar deals expected
Despite regional tensions and negotiations with Iran in Oman, Trump’s visit will mainly focus on investments and major economic deals between the U.S. and Gulf states. The U.S., Saudi Arabia, Qatar and the UAE are expected to announce trillion-dollar investments.
Saudi Arabia has already committed in January to $600 billion in investments in the U.S. over the next four years, but Trump has previously said he will ask for a full trillion.
In a call in January immediately after Trump took office, His Royal Highness Prince Mohammed bin Salman, Saudi Arabia’s Crown Prince and Prime Minister, held a phone call with Trump where he affirmed the Kingdom’s intention to broaden its investments and trade with the U.S. over the next four years with an amount of $600 billion, and potentially beyond that.
The two leaders also discussed ways for cooperation between Saudi Arabia and the U.S. to promote peace, security and stability in the Middle East, in addition to enhancing bilateral cooperation to combat terrorism. They also discussed ways to enhance bilateral ties in various areas. Prince Mohammed noted the U.S. administration’s ability to create unprecedented economic prosperity and opportunity through anticipated reforms, telling Trump that Saudi Arabia seeks to participate in these opportunities for partnership and investment.
UAE to invest $1.4 trillion in U.S.
Following Saudi Arabia, Trump’s second and third stops, in Qatar and the UAE, are similarly expected to focus on economic issues. In March, the White House also revealed that the UAE had expressed aspirations to invest $1.4 trillion in U.S.-based artificial intelligence infrastructure, semiconductors, manufacturing, and natural gas production over the coming decade. This announcement followed Trump’s meeting with Emirati national security adviser Sheikh Tahnoon bin Zayed at the White House.
Meanwhile, Qatar’s royal family is expected to gift Trump a luxury Boeing 747-8 plane to be outfitted for use as Air Force One. Trump is expected to donate the plane to his presidential library for use after his term ends.
Trump dismissed concerns about his plan to accept the airplane, saying on Monday it would be “stupid” to turn down the generous offer. The $400 million luxury plane would be one of the most valuable gifts ever received by the U.S. government.
