Saudi Crown Prince Mohammed bin Salman says he’s working to increase US investments to $1 trillion. The Crown…

Saudi Crown Prince Mohammed bin Salman says he’s working to increase US investments to $1 trillion. The Crown Prince met today with US President Donald Trump at the Saudi Investment Forum, shortly after both countries announced a new $142 billion arms deal.

In a statement, the White House said, “The United States and Saudi Arabia signed the largest defence sales agreement in history – nearly $142 billion, providing Saudi Arabia with state-of-the-art warfighting equipment”. The deal reportedly includes military systems, arms, and services. The agreement also includes other commercial deals, exports of gas turbines.

Saudi Arabia previously announced investments of approximately $600 billion to the US. However, Trump has said he wants the investments upped to nearly $1 trillion. The Saudi Crown Prince has reportedly accepted that request and will soon revise the country’s investment.

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In the first week of May, the US also gave initial approval to sell $3.3 billion worth of air-to-air missiles for Saudi Arabia’s fighter jets. The sale is also expected to be included in this arms deal in the return package. In a statement after approval of the sale, the US Defence Security Cooperation Agency said, “This proposed sale will support the foreign policy goals and national security objectives of the United States by improving the security of a partner country that contributes to political stability and economic progress in the Gulf Region.”

Saudi Arabia is Trump’s first stop on a three-day tour in the region. About the Saudi Crown Prince, Trump told reporters the Crown Prince was “very wise, wise beyond his years.” Trump will end his trip to the Middle East in the United Arab Emirates on Thursday, and hopes to secure over $1 trillion in deals from the visits.