Trump strikes arms deal with Saudis worth $350bn, $110bn to take effect immediately

Adam BaderLast Update : Saturday 20 May 2017 - 4:53 PM
Trump strikes arms deal with Saudis worth $350bn, $110bn to take effect immediately

Published time: 20 May, 2017 14:53

In his first overseas trip as president, Donald Trump sealed an arms deal with Saudi Arabia worth $350 billion over 10 years, with nearly $110 billion to take effect immediately. The agreement is said to bolster security “in the face of Iranian threats.”

This package of defense equipment and services support the long-term security of Saudi Arabia and the Gulf region in the face of Iranian threats, while also bolstering the Kingdom’s ability to contribute to counter terrorism operations across the region,” the White House said in a statement on Saturday, as quoted by CNBC News.

US President Donald Trump, along with US Secretary of State Rex Tillerson who is accompanying him on the trip, will attend the signing of a memorandum of intent on the package, Reuters reports, citing a White House official.

This package demonstrates, in the clearest terms possible, the United States’ commitment to our partnership with Saudi Arabia and our Gulf partners, while also expanding opportunities for American companies in the region,” the statement reads, according to Reuters.

The deal also “supports tens of thousands of new jobs in the US defense industrial base.”

Source: other

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2017-05-20 2017-05-20
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Adam Bader