Trump secures over $2 trillion in Gulf investments

US President Donald Trump is currently on a four-day trip to the Middle East to secure large investments from the oil-rich Gulf countries. According to reports, Trump’s tour has been extremely successful, with the Kingdom of Saudi Arabia (KSA) and Qatar both promising to potentially add upwards of $2.2 trillion in investments into the US.

The trip started in the KSA and is expected to end in the United Arab Emirates (UAE). As per reports, Trump’s visit to the KSA has enabled the US to unlock $1 trillion in investments following multi-billion-dollar commercial agreements with large companies. These companies include household names such as Amazon and Oracle, among others.

Trump’s visit to Doha has proved fruitful as well, with initial agreements bringing in $243.5 billion. However, reports indicate that the wider US-Qatar economic exchange following Trump’s visit to Doha is worth a staggering $1.2 trillion.

Investments from Doha alone are expected to support over one million jobs in the US, an attractive prospect for Trump, as he intends to re-industrialise the economy. Trump’s concerns echo a broader fear gripping the US economy as manufacturing employment in the US continues to decline steadily. 

According to experts, the decline in manufacturing-related employment has not given way to white collar high tech jobs as it should have, being overshadowed by rising employment in the poorly paid service sector.

However, with the US and Qatar reportedly inking deals concerning the aviation, defence, energy and quantum technology sectors, economic activity is expected to witness a significant boost. A statement released by the White House reiterated Trump’s talking points, outlining Washington-Doha ties by highlighting the recent sale of “Boeing aircraft and GE Aerospace engines to Qatar Airways.”

Qatar Airways’ order, worth a whopping $96 billion, will allow the airline to reportedly obtain 210 Boeing 787 Dreamliners and 777x aircraft that utilise GE Aerospace engines - both of which are manufactured in the US.

The agreement spells great news for Boeing as it has allowed the company to get its largest widebody and 787 order to date. According to details from reports, this deal alone will support over 150,000 jobs in the US, allowing for 1 million jobs to be supported throughout the production of the aircraft.

The White House’s statement hailed the deals as a way for the US to boost its manufacturing capabilities. Moreover, the statement outlined how the aforementioned deals have “put America on the path to a new Golden Age”.