Donald Trump news: US President announces $927 | Australian Markets

US President Donald Trump has introduced a close to trillion-dollar deal with Saudi Arabia that may see investments in power security, defence, technology and demanding minerals.

Speaking from Riyadh, Mr Trump stated the US-Saudi relationship had been the “bedrock of security and prosperity” since 1945, when then US President Franklin Roosevelt met with then Saudi King Abdulaziz.

“Exactly eight years ago this month, I stood in this very room and looked forward to a future in which the nations of this region would drive out the forces of terrorism and extremism … and take your place among the proudest, most prosperous, most successful nations anywhere in the world as leaders of a modern and rising Middle East,” Mr Trump stated.

The deal, which incorporates a $US600 billion ($927 billion) dedication from Saudi Arabia in power security, defence, technology and demanding minerals.

The deal is shaped with commitments from firms together with Saudi Arabian DataVolt, Google, Oracle, Salesforce, AMD, Uber, Hill International, Jacobs, Parsons, AECOM, GE Vernova, Boeing, AviLease, Shamekh Soluions, and LLC, simply to call a few.

Within the settlement is a close to $US142 billion defence sale element which can see the US present Saudi Arabia with “state-of-the-art war fighting equipment and services from over a dozen US defence firms,” the White House stated.

“The $US600 billion in Saudi investment in the United States builds on President Trump’s record in 2017 of securing billions in commercial deals and agreements with Saudi Arabia for the defence, energy, technology, and infrastructure sectors,” the White House continued.

Mr Trump opened his four-day Middle East journey by paying a go to to Saudi Arabia’s de facto ruler, Crown Prince Mohammed bin Salman, for talks on US efforts to dismantle Iran’s nuclear program, finish the conflict in Gaza, maintain down oil costs and more.

Prince Mohammed warmly greeted Trump on Tuesday as he stepped off Air Force One and kicked off his Middle East tour.

The two leaders then retreated to a grand corridor on the Riyadh airport for a espresso ceremony.

Mr Bin Salman, who spoke earlier than Mr Trump on the investment convention, stated the goal is to raise the US-Saudi partnership to $US1 trillion throughout the navy, security, financial and technological sectors.

During the lavish investment discussion board, the Crown Prince was beaming as Mr Trump expressed his admiration for Mr Bin Salman.

“Before our eyes, a new generation of leaders is transcending the ancient conflicts and tired divisions of the past, and forging a future where the Middle East is defined by commerce, not chaos; where it exports technology, not terrorism; and where people of different nations, religions, and creeds are building cities together — not bombing each other out of existence,” Mr Trump stated.

“This great transformation has not come from Western interventionists … giving you lectures on how to live or how to govern your own affairs.

“No, the gleaming marvels of Riyadh and Abu Dhabi were not created by the so-called ‘nation-builders,’ ‘neo-cons,’ or ‘liberal non-profits,’ like those who spent trillions failing to develop Kabul and Baghdad, so many other cities. Instead, the birth of a modern Middle East has been brought about by the people of the region themselves … developing your own sovereign countries, pursuing your own unique visions, and charting your own destinies.

“After so many decades of conflict, finally it is within our grasp to reach the future that generations before us could only dream about — a land of peace, safety, harmony, opportunity, innovation, and achievement right here in the Middle East.”

Mr Trump posted an image alongside aspect Crown Prince Mohammed bin Salman after saying the mega-deal.