During a bilateral meeting Tuesday with Saudi Crown Prince Mohammed bin Salman, President Donald Trump announced Saudi Arabia was investing $600 billion into the U.S.
Mohammed said his country’s total investment will near $1 trillion in technology, AI and magnets, among other areas. He said he “believes in the future of America.”
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Economists, however, told The New York Times that these numbers are “highly unrealistic” as the kingdom faces fiscal constraints due to subdued oil prices.
When asked about oil prices and the country’s ability to make such investments, the prince said the kingdom was not “creating fake opportunities to please America or please Trump.” He said Saudi Arabia has “huge demand” for computing power and desires U.S. chips.
Specific details on the investment were not released.
Jamal Khashoggi’s death
The prince’s visit to the White House was his first in seven years, and the first since the 2018 murder of journalist Jamal Khashoggi at the Saudi consulate in Istanbul, Turkey. It was a death that U.S. intelligence reports concluded the prince ordered. However, the prince has disputed the claims.
A reporter questioned the prince regarding Khashoggi’s death during Tuesday’s meeting. Trump interjected before Mohammed could answer, saying, “He knew nothing about it. You don’t have to embarrass our guest by asking something like that.”
The president added, “A lot of people didn’t like that gentleman that you’re talking about, whether you like him or didn’t like him, things happen.”
In his own response, the prince said Saudi Arabia “did all the right steps” to investigate Khashoggi’s death.
“It’s painful and it’s a huge mistake,” he added.
The visit
Before Tuesday’s meeting, Trump showed the prince some of the aesthetic changes he’s made around the White House, including the colonnade near the Rose Garden and the wall of presidential portraits.
The visit will include a formal dinner at the White House on Tuesday night as Trump attempts to finalize a broader security pact and re-engage Saudi Arabia on regional stability.
