Riyadh: Saudi Crown Prince Mohammed bin Salman and U.S. President Donald Trump signed a strategic economic partnership agreement in Riyadh on Tuesday during Trump’s Gulf tour.
The U.S.-Saudi Investment Forum, held in Riyadh, featured a roster of influential American business leaders.
The visit, marked by lavish ceremonies and high-level meetings, underscored the deepening business ties between Washington and Riyadh.
President Trump and Saudi Crown Prince Mohammed bin Salman signed a sweeping economic partnership agreement covering a range of sectors, including energy, defense, mining, and advanced technology.
Among the headline deals is a $9 billion partnership between American and Saudi companies to extract and refine critical minerals for use in high-tech manufacturing, energy, and defense, with the output destined for U.S. markets.
Additional agreements were reached on energy cooperation, space monitoring, judicial collaboration, and the modernization of Saudi military forces.
Letters of intent were also signed to enhance National Guard training and support, further strengthening defense ties between the two countries.
Tesla CEO and Trump adviser Elon Musk, BlackRock CEO Larry Fink, Citigroup CEO Jane Fraser, and OpenAI CEO Sam Altman were among the notable attendees, highlighting the significance of technology and finance in the new agreements.
U.S. Secretary of State Marco Rubio and Defense Secretary Pete Hegseth accompanied President Trump, underscoring the administration’s commitment to deepening economic and security ties.
Trump’s visit aims to secure investments from Saudi Arabia, Qatar, and the United Arab Emirates, with deals potentially reaching into the trillions of dollars.
Saudi Arabia had previously pledged $600 billion in U.S. investments over the next four years, but Trump has set his sights on securing a full trillion-dollar commitment.
The United States is expected to offer Saudi Arabia an arms package worth over $100 billion, including advanced weaponry such as C-130 transport aircraft.
In the technology sector, the UAE’s AI leader G42 is set to collaborate with Saudi company Humain, granting access to U.S.-manufactured AI chips, further cementing the region’s role in the global tech economy.
The visit was characterized by a display of strong personal rapport between Trump and Crown Prince Mohammed bin Salman.
Trump praised the crown prince’s leadership and highlighted the mutual benefits of the U.S-Saudi cooperation, stating that the investments would create “tremendous numbers of jobs” in the United States.
President Trump’s Gulf tour will continue with stops in Qatar and the United Arab Emirates, where further business deals and investment agreements are expected.
While regional security issues such as the wars in Gaza and Ukraine remain in the background, Trump’s focus is firmly on economic diplomacy and expanding American influence through business partnerships.
