US, Saudi Arabia sign over $300 billion in deals as Trump begins Middle East tour

Saudi Arabia and US have signed agreements worth over $300 billion, the Kingdom's Crown Prince Mohammed bin Salman confirmed on Monday.

This announcement coincided with the arrival of US President Donald Trump in the Kingdom.

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The trip marks the US president's first major visit abroad of his second term, with the White House saying he looked forward to a "historic return" to the region.

After arriving in Riyadh on Tuesday, Trump will make stops at Qatar and the UAE. Trump's itinerary includes Riyadh, Doha, and Abu Dhabi.

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Earlier in the day, the US and Saudi Arabia signed a nearly $142 billion defence sales agreement on Tuesday that provides Riyadh with state of the art equipment and services from US firms, the White House said.

The defence deal is part of a $600 billion Saudi investment commitment for the U.S., the White House said in a factsheet. The agreement also includes exports of GE gas turbines and energy solutions totaling $14.2 billion, and Boeing 737-8 passenger aircraft totaling $4.8 billion.

(With inputs from Reuters)