With Deals and Diplomacy, President Trump Aims to Reshape the Middle East

With Deals and Diplomacy, President Trump Aims to Reshape the Middle East

Joumanna Bercetche: $600 billion was the headline figure that the White House put out after that bilateral meeting that took place between the Crown Prince and President Trump. Later on, Crown Prince MBS in a speech said that they’re working to increase that figure to $1 trillion of actual deals though. From what we understand, the nominal amount was $300 billion, and a lot of that was announced at this Saudi-US business forum that was being held in parallel. So many CEOs and industry leaders. Citi CEO, Jane Fraser. You had BlackRock, CEO, Larry Fink,  you had Jensen Huang from in Nvidia. Those individuals all descended on Riyad for that conference. And on the back of that we did get some signature deals, one of them as the largest defense deal in history. Um, per the White House again, uh, a $142 billion defense package in which Saudi Arabia has committed to buying arms from the United States. Also, a lot of, uh, energy, uh, MOUs, Aramco doing about $80 billion worth of partnerships with US companies. A similar theme in Doha as well. You had that big headline figure of $1.2 trillion that that was, quote unquote economic agreement. But actually in terms of what was, uh, what is firm, we understand that number to be closer to around $240 billion. Of which, and again, another record breaking figure because President Trump likes the record breaking numbers. Um, Qatar airways has placed a firm order for up to 210 Boeing Jets, and that amounts to about $96 billion in nominal value. That is the largest order that Boeing has ever received.

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