Web Desk (24 News) — 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.”
Beyond $109b in military sales, @potus deal w US & Saudi Arabia incs another $250b commercial investment creating hundreds of 1000s US jobs
— Sean Spicer (@PressSec) May 20, 2017
“This package of defense equipment and services supports the long-term security of Saudi Arabia and the Gulf region in the face of malign Iranian influence and Iranian related threats. Additionally, it bolsters the Kingdom’s ability to provide for its own security and continue contributing to counterterrorism operations across the region, reducing the burden on US military forces,” the US Department of State said in a statement on Saturday.
US President Donald Trump, along with US Secretary of State Rex Tillerson, who is accompanying him on the trip, attended a signing ceremony for almost $110 billion worth of defense capabilities to be conveyed to Saudi Arabia, effective immediately.
“This package demonstrates the United States’ commitment to our partnership with Saudi Arabia, while also expanding opportunities for American companies in the region,” the statement read.
The arms package includes a Terminal High Altitude Area Defense (THAAD) missile defense system from Lockheed Martin, similar to the one being made operational in South Korea, which costs around $1 billion, Reuters reported earlier, citing unnamed sources within the administration.