Trump announces $142 billion arms deal with Saudi Arabia

US President Donald Trump and the Crown Prince of Saudi Arabia have signed an arms package worth nearly $142 billion in Riyadh, according to the White House.

Described by the Trump administration as the "largest defense cooperation agreement" in history, the package includes deals between hundreds of American defense companies in sectors such as air and missile defense.

"Today's agreements are historic and transformative for both countries and represent a new golden era of partnership between the United States and Saudi Arabia," the White House said in a statement.

A partnership between the Saudi Arabian Ministry of Interior and the FBI is also included in the agreement.

On Tuesday morning, Trump attended a VIP luncheon at the luxurious Saudi Royal Palace alongside other high-profile guests, including Tesla CEO Elon Musk and OpenAI CEO Sam Altman.

Other leading American business figures, including Blackstone Group CEO Stephen Schwarzman and BlackRock CEO Larry Fink, were also present.

Trump is expected to attend a dinner with Saudi Arabia's ruler, Crown Prince Mohammed bin Salman. /CNA

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