On May 13, 2025, President Donald Trump and Saudi Crown Prince Mohammed bin Salman formalized a landmark $600 billion economic partnership in Riyadh. The agreement, marked by substantial defense sales and agreements across various sectors like energy and technology, promises to create an estimated two million jobs in the US.
Key highlights of the deal include:
* A $142 billion defense agreement.
* Focus on traditional industries impacting job creation.
* US delegation led by President Trump, Secretary of State Marco Rubio, and Crown Prince Mohammed bin Salman representing Saudi Arabia.
* Agreements valued at approximately $600 billion span sectors such as energy and technology.
The pact bolsters the US-Saudi relationship while promising to increase US defense exports. The deal is expected to boost the financial markets and spur economic growth through significant investment in various US industries.
Experts are analyzing potential impacts on job markets, financial markets, and technological advancements. Historical evidence suggests such large-scale agreements can have positive economic effects, although regulatory changes could influence results.
Follow Nabih Bulos for more updates on this historic agreement.