On May 13, 2025, US President Donald Trump and Saudi Crown Prince Mohammed bin Salman signed a series of high-profile defence and economic agreements in Riyadh. The signing ceremony took place at the Royal Court and coincided with a major Saudi-U.S. investment forum attended by prominent American business leaders.
Strategic Economic Partnership and Defence Deal
The central agreement signed was the Strategic Economic Partnership Document, aimed at deepening bilateral economic collaboration. According to officials, the agreements include:
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A historic $142 billion defence sales deal, marking the largest such agreement in US history.
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Cooperation to modernise Saudi Arabia’s armed forces with advanced US military equipment and services from more than a dozen American defence contractors.
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Collaborative projects between NASA and the Saudi Space Agency to support space exploration and research.
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Energy and mineral resource cooperation, including knowledge transfer and joint ventures in sustainable development sectors.
President Trump emphasized the scale of Saudi investments, stating that the US is seeking up to $1 trillion in Saudi commitments, while Crown Prince Mohammed bin Salman has reportedly offered $600 billion in investment.
“We’ve been very good to them,” President Trump said, referencing long-standing U.S.-Saudi relations.
Investment Forum and American Business Delegation
The agreements were signed alongside a major Saudi-US investment forum, which featured leading figures from the U.S. private sector, including:
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Elon Musk (Tesla, SpaceX)
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Sam Altman (OpenAI)
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Executives from BlackRock, Citigroup, IBM, Coca-Cola, and major US airlines
Tesla also announced the launch of a dealership in Saudi Arabia, and Musk signaled a partial withdrawal from his role in the US Department of Government Efficiency, a Trump administration initiative.
Saudi Vision and Investment Climate
Saudi Investment Minister Khalid bin Abdulaziz Al-Falih spoke at the forum, highlighting macroeconomic stability, a growing stock market, and reforms under Vision 2030 as key factors in attracting foreign direct investment. Topics discussed at the forum included:
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Energy transition and sustainability
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Financial sector modernization
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Technology and artificial intelligence
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Manufacturing and industrial development
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Space and defence collaboration
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Mineral exploration and infrastructure projects
US Treasury Secretary Scott Bessent said strengthening the US-Saudi economic relationship remains a top policy focus.
Existing US-Saudi Economic Ties
Saudi Arabia currently holds over $100 billion in US Treasury bonds, and approximately $2 billion is managed through an investment fund overseen by Trump’s son-in-law, Jared Kushner. Although Kushner did not join the Riyadh trip, his financial links to the kingdom remain active.
According to US government data:
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Trade volume between the US and Saudi Arabia reached $32 billion in 2024
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Direct US investment in Saudi Arabia totaled $15.3 billion, with focus areas including oil and gas, technology, and infrastructure
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