President Donald Trump is traveling to the Middle East to bring more investment to the U.S.
Trump departed Washington, D.C., on Monday ahead of planned visits to Saudi Arabia, Qatar and the United Arab Emirates through the end of the week. While in Saudi Arabia on Tuesday, the president will meet with Saudi Crown Prince Mohammed Bin Salman as the dealmaking swing kicks off.
“President Trump will return to [the Middle East] to re-emphasize his continued vision for a proud, prosperous and successful Middle East where the United States and Middle Eastern nations are in cooperative relationships and where extremism is defeated in place of commerce and cultural exchanges,” White House press secretary Karoline Leavitt said Friday.
“This trip ultimately highlights how we stand on the brink of the golden age for both America and the Middle East, united by a shared vision of stability, opportunity and mutual respect,” Leavitt added.
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White House chief of staff Susie Wiles told the New York Post in an interview late last month that the Middle East trip is “almost entirely about business deals and investment in the United States by all three countries,” adding that there will be “across-the-board investments, and they’re very substantial.”
The trip to the Middle East to spur investment in the U.S. is expected to help deepen economic cooperation with the three countries, including advanced tech such as artificial intelligence (AI), energy and other key sectors. It will also foster pre-existing defense ties with those nations amid elevated tensions with Iran over its nuclear program and support for regional proxy groups like Hamas and the Houthis.
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Axios, citing current and former U.S. officials and two Arab officials, reported the administration hopes to secure $1 trillion in investment commitments.
The report noted that Trump in March said Saudi Arabia “put up $450 billion” in investment during his first term and told the country, “‘I will go if you pay $1 trillion to American companies over four years,’ and they agreed to do that.” Bin Salman said after Trump took office that Saudi Arabia would invest $600 billion in the U.S. over the next four years.
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Ahead of the trip, the royal family of Qatar offered the U.S. a $400 million Boeing 747-8 jumbo jet to serve as a temporary Air Force One amid delays with Boeing’s next-generation presidential aircraft.
Though the move has drawn criticism over a potential quid pro quo, the White House dismissed those concerns, noting that a legal review is underway to ensure the pending deal is compliant with the law.
Trump has been active in his efforts to attract investment to the U.S. since he won his second term in office last year. Before he returned to the White House, the president announced a $20 billion investment in the U.S. by DAMAC, an investment and property development company based in Dubai, UAE.
The DAMAC investment will focus on building data centers for large companies involved in the AI and cloud business. Investments are planned for several Midwest and Sun Belt states, with Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana set to see investment during the first phase of the project.
Fox News’ Digital’s Emma Colton contributed to this report.
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