Saudi Arabia is of key diplomatic importance to the Trump White House, especially amid the ongoing Israel-Hamas war.

A previous arms deal agreed during Trump’s first term in 2017 between Saudi Arabia and the also promised a big headline figure. At the time, the White House Press Secretary Sean Spicer said the deal included "an immediate $110 billion investment" which would "grow to $350 billion over the next 10 years".

Stocks were set to edge higher on Wednesday, having racked up solid gains the previous session thanks to a cooler-than-expected inflation reading and news of artificial intelligence investments from Saudi Arabia.

One of the strategic thrusts of the opening months of Trump’s second terms has been aimed at deepening America’s economic engagement with the leading economies of the Gulf. Thus, the first leg of his trip to the region resulted in a template for deeper US-Saudi ties.

Plus: Biden revelations ignite new Democratic divisions{beacon} PRESIDENT TRUMP on Tuesday pushed for a realignment between the U.S. and strategic partners in the Middle East on the first major

President Donald Trump spoke of a future for the Middle East steeped in prosperity, business deals and technological advances as he announced the U.S. would end sanctions against war-torn Syria and signed a $600 billion investment agreement with Saudi Arabia in his first visit to the region since his second term began.

President Donald Trump kicked off his Middle East tour with a visit to Saudi Arabia on Tuesday, vowing a continued partnership between Washington and Riyadh.

President Trump announced the change in US policy during his speech at a Saudi investment forum, kicking off the first major international trip of his second term.