May 20, 2017

president trump visits saudi arabia

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US-Saudi Arabia seal weapons deal worth nearly $110 billion immediately, $350 billion over 10 years

The United States sealed a multi-billion arms deal to Saudi Arabia, the White House announced on Saturday, a move that solidifies its decades-long alliance with the world's largest energy producer just as President Donald Trump begins his maiden trip abroad as leader of the free world.

The agreement, which is worth $350 billion over 10 years and $110 billion that will take effect immediately, was hailed by the White House as "a significant expansion of…[the] security relationship" between the two countries.

Simultaneously, Saudi Arabia is in a broad-based push for economic reform, and as part of that effort signed a flurry of deals with private U.S. companies worth tens of billions of dollars.

cnbc