Saudi Crown Prince Mohammed Bin Salman promises $600 billion investment in call with Trump

Trump had in 2017 changed a tradition of US presidents first heading to the United Kingdom as their first trip abroad by visiting Saudi Arabia.

Saudi Arabia Crown Prince Mohammed Bin Salman spoke to President Donald Trump and assured the Kingdom's readiness to significantly increase investment and trade with America by $600 billion over next four years.

Saudi to Up US Investments

State-run news agency SPA said crown prince MBS spoke to the American president in a congratulatory phone call on Wednesday, SPA said. Prince MbS said the kingdom was keen to explore partnership and investment into opportunities created by Trump administration’s proposed reforms, and would deliver 'unprecedented economic prosperity'.

During the call, Donald Trump and Crown Prince bin Salman spoke about the kingdom's 'international economic ambitions' along with trade opportunities, the White House said.

"We enjoy a very strong relationship with the US over the years," Saudi Arabia's Finance Minister Mohammed Al-Jadaan said during his conversation with Bloomberg Television on January 23. "We have a relationship that spans over eight decades. Very strategic, based on economy and trade, and will continue," he added.

Crude Cooloff

Crude oil prices are poised for the first weekly fall of 2025, after Donald Trump said he will ask Saudi Arabia and OPEC to lower prices. Brent crude is near $78 per barrel and WTI crude was near $74, both down nearly 3% for the week.

President Trump has already pledged that he would ask the OPEC cartel to 'bring down' the cost of crude oil.'

"...it's also reported today in the papers that Saudi Arabia will be investing at least $600 billion in America, but I'll be asking the Crown Prince, who's a fantastic guy, to round it out to around $1 trillion. I think they'll do that because we've been very good to them. And I'm also going to ask Saudi Arabia and OPEC to bring down the cost of oil," said President Trump during his virtual address to business leaders at the World Economic Forum in Davos.

Trump has already made a statement, asking Russian President Vladimir Putin to 'make a deal' and end the Ukraine war, or face penalties and further sanctions on Russian oil assets and infrastructure.

"If the price came down, the Russia-Ukraine war would end immediately. Right now the price is high enough that that war will continue. You've got to bring down the oil price, you've got to end that war. They should have done it long ago," Trump added.

Close Allies

Trump had in 2017 changed a tradition of US presidents first heading to the United Kingdom as their first trip abroad by visiting Saudi Arabia. The commitment from Saudi Arabia and Trump's 2017 visit, both underscore close ties between America and the oil-rich Gulf state.

After his inauguration this week, President Trump had said that he is ready to visit Saudi Arabia again, if the country wanted to buy 'another $450 billion or $500 billion' worth of goods from America.

US Secretary of State Marco Rubio too spoke to the crown prince and said he looks forward to 'shared interests in Syria, Lebanon, Gaza, and beyond'.

Saudi Arabia has so far invested more than $770 billion in the US across businesses and industries.