Trump's trillion-dollar trip
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Trump and Saudi King Salman sign agreements during Trump's 2017 visit. Photo: Bandar Algaloud/Saudi Royal Council via Getty
President Trump leaves for the Gulf on Monday and is aiming to return home with $1 trillion worth of deals and investment pledges, according to two current and former U.S. officials and two Arab officials.
Why it matters: Trump's trip to Saudi Arabia, Qatar and the UAE is almost all about money. "His regional agenda is business, business and business," one Arab official said.
- The geopolitical agenda is secondary. While Trump had made clear he wants a Saudi-Israel normalization deal, the president and his aides know it's currently not in the cards, mainly due to the ongoing war in Gaza.
The big picture: Trump made Saudi Arabia the first foreign trip of his first term, and would have again if not for Pope Francis' funeral.
- One reason: Crown Prince Mohammed Bin Salman (MBS) pledged $600 billion in investments in the U.S. over the next four years right after Trump took office.
- "Last time they put up $450 billion," Trump told reporters in the Oval Office in March. "But this time they have gotten richer. We have all gotten older. So I said 'I will go if you pay $1 trillion to American companies over four years,' and they agreed to do that."
- The deals signed in Saudi Arabia will include at least $100 billion in military sales as well as big energy and minerals deals.
Breaking it down: The Qataris are also expected to announce $200-300 billion in deals and investments, including a huge commercial aircraft deal with Boeing and a $2 billion deal to purchase MQ-9 Reaper drones, a source with knowledge of the issue said.
- The Qataris are also considering giving Trump a gift: A 747 jumbo jet to serve temporarily as Air Force One. Qatar's Ministry of Defense and the Pentagon are discussing the issue, which is also under legal review. Trump wrote on his Truth Social that it would be "a GIFT, FREE OF CHARGE."
- The UAE already declared in March that it would invest $1.4 trillion in the U.S. over the next decade.
Between the lines: Trump clearly sees the Gulf as a place where there's big money to be made, for the U.S. and for businesses like his.
- The Trump Organization announced a new luxury real estate deal in Qatar just two weeks before the trip, and also has projects in Jeddah, Dubai and Oman.
- Many of Trump's close associates also do business in the region.
Reality check: While the announcements Trump unveils may add up to $1 trillion, it's not clear whether a trillion in new spending will actually materialize.
Zoom in: One particular focus of the trip will be investments in AI and tech.
- OpenAI CEO Sam Altman will be traveling to the Gulf during Trump's trip, a U.S. official and a source familiar with the issue said. OpenAI declined to comment.
- A host of tech leaders, including Nvidia CEO Jensen Huang, are slated to speak Tuesday at a Saudi-U.S. Investment Forum in Riyadh.
What to watch: The UAE and Saudi Arabia are among the countries lobbying hard to gain access to advanced AI chips exported from the U.S.
- The Trump administration last week rescinded a Biden-era rule that aimed to block China's access to advanced chips via third parties by capping how many could be exported to most countries.
- The Trump administration has said it will replace it with a new rule, leaving open the question of whether the Gulf states will face any restrictions.
Go deeper: Hamas to release Israeli-American hostage as a gesture to Trump
