U.S. President Donald Trump kicked off a tour of affluent Gulf nations on Tuesday, beginning with Saudi Arabia, where his focus was on securing significant investment deals rather than addressing the region’s ongoing security issues. Upon arriving in Riyadh, Trump, accompanied by a group of high-profile U.S. business leaders including Elon Musk, raised his fist in a display of solidarity as he was greeted by Crown Prince Mohammed bin Salman.
Trump’s tour will continue with visits to Qatar on Wednesday and the United Arab Emirates on Thursday. Notably, Israel was not included in his itinerary, which has raised questions about the nation’s place in Washington’s priorities.
At the Saudi-US Investment Forum, Saudi Investment Minister Khalid al-Falih emphasized the growing business opportunities between the U.S. and Saudi Arabia. Trump aims to secure trillions of dollars in investments from Gulf oil-producing countries. During a meeting at the Royal Court, Trump referred to Crown Prince Mohammed bin Salman as a friend and praised their strong relationship. Trump also joked that the $600 billion investment pledge from Saudi Arabia could eventually reach $1 trillion.
The forum was attended by notable figures including BlackRock CEO Larry Fink, Blackstone CEO Stephen A. Schwartzman, and Treasury Secretary Scott Bessent. Musk had brief exchanges with both Trump and the crown prince during a palace reception.
Trump also had lunch with prominent U.S. businessmen, including Musk and OpenAI CEO Sam Altman, alongside Crown Prince Mohammed bin Salman. The prince’s Vision 2030 reform program aims to diversify Saudi Arabia’s economy, with major projects like the NEOM city.
Despite the ambitious vision, Saudi Arabia has had to scale back some goals due to rising costs and declining oil prices. Saudi Arabia and the U.S. have a long-standing relationship, with the kingdom providing oil and the U.S. offering security. The ties between Trump and MbS have been smoother compared to those with President Joe Biden, whose relationship with MbS was strained following the 2018 killing of journalist Jamal Khashoggi.
Trump has mentioned plans to visit Turkey for discussions on Russia’s war in Ukraine and has urged Israeli Prime Minister Netanyahu to consider a ceasefire in Gaza.
While Israel is not included in Trump’s itinerary, there are concerns in the country about its place in his priorities, especially with the ongoing Gaza conflict. Trump’s leverage has increased with the weakening of Iran and its regional allies due to Israeli military operations. Trump has also threatened military action against Iran if diplomatic efforts fail. Sources suggest that Trump may offer Saudi Arabia an arms deal worth over $100 billion. His administration is also expected to make progress on expanding accords with Arab states that recognized Israel, though opposition from Netanyahu on Gaza and the Palestinian state issue may hinder progress with Saudi Arabia.
