Trump returns to Gulf: Trillions pledged, Iran looms, Hamas deal in sight

President Donald Trump launched a four-day tour of the Middle East on May 12, with scheduled stops in Saudi Arabia, Qatar, and the United Arab Emirates. 

The trip highlights deepening economic partnerships, with Gulf nations pledging massive investments in the US and joint ventures over the coming years.

In Riyadh, Trump is expected to attend a Gulf Cooperation Council meeting, and a Saudi-US investment forum will be held alongside his visit, Caliber.Az reports, citing US media.

The day before, a large-scale investment forum is scheduled to be attended by Tesla and SpaceX CEO Ilon Musk, Meta CEO Mark Zuckerberg, Citigroup CEO Jane Fraser and other leading representatives of American business.

Saudi Crown Prince Mohammed bin Salman has pledged $600 billion in US investments over four years, while the UAE has committed $1.4 trillion over the next decade. 

The Trump Organisation is also expanding its business in the region, with new projects in Saudi Arabia, Qatar, and the UAE, including a cryptocurrency venture linked to an Emirati fund.

White House press secretary Karoline Leavitt said Trump’s mission is to "strengthen ties" and advance a vision of regional cooperation, commerce, and peace. She dismissed concerns about the president’s family business ties in the Gulf, stating Trump has "lost money" serving as president and acts only in the nation's interest.

Trump's visit comes at a tense time in the region. He faces pressure over Israel’s ongoing military operations in Gaza, the humanitarian crisis there, and the broader Israeli-Hamas conflict. Hamas recently announced plans to release US-Israeli soldier Edan Alexander, with Trump confirming the move as a critical step toward a ceasefire. However, normalisation efforts between Israel and Arab states remain frozen due to the Gaza conflict.

Trump is also expected to discuss Iran’s nuclear program, a key concern shared by the Gulf states. During his first term, Trump made a landmark visit to Saudi Arabia, promoting anti-extremism and cooperation. Since then, Gulf nations have recalibrated their approach to Iran, favouring diplomacy and economic growth over confrontation.

In a symbolic gesture, the Qatari royal family is reportedly gifting Trump a luxury Boeing jet for eventual use in his presidential library. The White House said all such gifts follow legal procedures.

Trump’s trip follows an April visit to Rome for Pope Francis’s funeral, where he met with Ukrainian President Volodymyr Zelenskyy to discuss a US-Ukraine minerals agreement. Saudi Arabia has also hosted peace talks between Russia and Ukraine, reflecting its growing geopolitical clout.

Experts say Trump’s trip reflects his belief that the Gulf region is a rising global power centre. A lavish reception is expected, mirroring the royal welcome he received in 2017, complete with a sword dance and Saudi Arabia’s top civilian honour.

Speaking to reporters ahead of his departure, the White House chief did not rule out that he might also visit Istanbul if it would help advance peace talks on Ukraine.

By Tamilla Hasanova