President Donald Trump signed a deal with Saudi Arabia, kicking off nearly $110 billion worth of investments into military equipment.
“That was a tremendous day. Tremendous investments in the United States,” Trump said after the signing ceremony to reporters. “Hundreds of billions of dollars of investments into the United States and jobs, jobs, jobs.”
Trump and Saudi Arabia’s King Salman signed a joint strategic declaration, reassuring the relationship between the two countries, and financial agreements on defense, technology, and energy.
According to the White House, the agreement will help Saudi Arabia face the threat of Iran and fight terrorism in the Middle East as well as support new jobs in the defense industry. The deal is expected to include $350 billion in investments over ten years
Secretary of State Rex Tillerson said the deal would create hundreds of thousands of jobs during a press conference with reporters.
“Strong economic relationships are the foundation for security relationships as well,” he said, adding that the new deal “sends a strong message to our common enemies.”
Trump was welcomed warmly by the Saudi’s, who awarded him the highest medal of honor in the kingdom for his efforts to “strengthen the relationship between the two friendly countries” and continuing his effort “to enhance security and peace” in the world.