Trump gets $600 billion Saudi investment pledge

US President Donald Trump secured a $600 billion commitment from Saudi Arabia on Tuesday to invest in the United States after the Kingdom accorded him a gala welcome at the start of a tour of Gulf states.

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Trump punched the air as he emerged from Air Force One to be greeted by Prince Mohammed Bin Salman, who later signed an agreement with the president in Riyadh on energy, defence, mining and other areas.

The US agreed to sell Saudi Arabia an arms package worth nearly $142 billion, according to a White House fact sheet that called it “the largest defense cooperation agreement” Washington has ever done.

The agreement covers deals with more than a dozen US defense companies in areas including air and missile defence, air force and space advancement, maritime security and communications, the fact sheet said.

“Today we hope for investment opportunities worth $600 billion, including deals worth $300 billion that were signed during this forum,” the Saudi crown prince said in a speech during a US-Saudi Investment Forum session held in Riyadh on the occasion of Trump's visit.

“We will work in the coming months on the second phase to complete deals and raise it to $I trillion,” he said.

Saudi Arabia is one of the largest customers for US arms.

“I really believe we like each other a lot,” Trump said during a meeting with the crown prince.