US President Donald Trump said on Thursday he likely will make his first trip abroad

to Saudi Arabia to seal an agreement for Riyadh to invest upwards of US$1 trillion (HK$7.8 trillion) in the US economy, including purchases of military equipment.

Talking to reporters in the Oval Office, Trump said he would probably travel there in the next month and a half. He noted that the first overseas trip of his first term was to Riyadh in

2017 to announce Saudi investments estimated then to be worth US$350 billion.

"This time, they've gotten richer, we've all gotten older," said Trump.

He said that, at his behest, the Saudis were willing to invest US$1 trillion over four years in American companies including purchases of US military equipment.

"And they've agreed to do that, so I'm going to be going there, and I have a great relationship with them, and they've been very nice," Trump said.

Saudi Arabia has been taking a more prominent role in US foreign policy. Trump's Middle East special envoy Steve Witkoff told reporters the Saudis will host a US-Ukraine meeting next week to discuss a ceasefire in the Ukraine war.

In February, Trump met with officials of the PGA Tour and the Saudi-owned LIV Golf about resolving a rift between the two.

Jared Kushner, the president's son-in-law and Middle East adviser during his first term, started a private equity firm that received US$2 billion in Saudi investment after Trump left

office.

Trump has also recently presided over a string of announcements about companies investing heavily in the US economy including Taiwan Semiconductor Manufacturing and Apple.

REUTERS

Trump says he will go to Saudi Arabia to reach US$1 trillion deal