Bahrain to invest $17bn in US amid deals with Boeing, Oracle, Cisco

The Trump medication says the caller investments volition make 30,000 US jobs.

Bahrain’s crown prince is acceptable to put much than $17bn successful the United States.

The White House outlined the caller woody earlier a gathering betwixt Crown Prince Salman bin Hamad Al Khalifa and US President Donald Trump.

Sitting with the crown prince of Bahrain, helium described the Gulf federation arsenic a “fantastic ally.” He said they would sermon commercialized and different topics.

The prince said they would denote investments successful the United States, which “builds upon a bequest that we’re precise arrogant of”.

As portion of the investment, Bahrain volition motion a woody betwixt Gulf Air and Boeing/GE valued astatine astir $7bn for 12 craft with an enactment for six more.

The woody besides includes the merchantability of 40 GE engines, according to the White House.

The announcement from the crown prince comes connected the heels of overseas investment deals Trump made during a travel to the Middle East successful May. During a sojourn to Riyadh, Trump secured a $600bn committedness from Saudi Arabia to put successful the United States and agreed to merchantability the Saudis an arms bundle worthy astir $142bn.

The White House said the Bahrain woody volition enactment 30,000 American jobs and was secured with assistance from Trump and Commerce Secretary Howard Lutnick.

The crown prince volition besides perpetrate to deploying further superior amounting to billions of dollars.

Bahrain is expected to beryllium signing deals with Oracle and Cisco, with plans to regenerate Chinese servers with Cisco products, the White House said.

Bahrain besides seeks to summation its investments successful US energy, tech and manufacturing sectors.

The White House says the crown prince intends to deploy superior to summation US home aluminium production, put successful US LNG accumulation to unafraid BAH vigor supplies and bargain cutting-edge AI chips, partnering with US hyper-scalers.

During the visit, the crown prince volition besides denote the kingdom’s volition to marque these investments and motion assorted deals and memorandums of knowing (MOUs).

One of these MOUs creates a model for Bahrain to statesman discussions towards processing commercialized atomic capabilities.

Later this year, the king of Bahrain volition sojourn Washington to finalise these agreements and solidify the advancement made successful gathering our 2 nations’s economical prosperity, the White House said.

US markets remained comparatively level connected the announcement. As of 12:00pm ET (16:00 GMT) the S&P 500 was down 0.1 percent, the tech-heavy Nasdaq was down 0.09 percent and the Dow Jones Industrial Average was 0.04 percent. Boeing banal is down 0.3 percent from the marketplace open, aft an earlier upward surge this morning. GE trending upwards connected the news, up 0.1.

The caller concern statement comes arsenic the White House’s tariff strategy remains successful the spotlight. In April, erstwhile the White House paused country-specific tariffs, the Trump medication said it would person 90 deals successful 90 days. With that deadline having passed, the US has lone solidified three, including Vietnam, UK and as of Tuesday, Indonesia.

In the quality conference, the crown prince besides said that Bahrain would not supply Ukraine with Patriot missiles.