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Trump begins Middle East trip in Saudi Arabia seeking major economic deals – live | Trump administration

The day so far

Here is a summary of events so far and what’s coming up:

  • Donald Trump is in Riyadh, Saudi Arabia, as he begins his four-day tour of the Middle East focusing on economic deals.

  • He was greeted at the airport by the de facto ruler Saudi crown prince Mohammed bin Salman.

  • Trump is expected to focus on economic deals. Trump has said he will ask for $1tn investment in the US.

  • During the Riyadh stop, Trump is expected to offer Saudi Arabia an arms package worth well over $100bn, sources told Reuters.

  • Tesla CEO and Trump adviser Elon Musk is also in Riyadh, where he is expected to speak at the Saudi-US Investment Forum.

  • Secretary of state and national security adviser Marco Rubio and defence secretary Pete Hegseth are also on the trip.

  • Trump is expected to address the Saudi-US Investment Forum later today – we’ll bring you all the key lines from that.

  • He will later attend a state banquet in Riyadh.

  • The tour will also see Trump visit Qatar and the United Arab Emirates.

  • Trump has said he will not be travelling to Israel but suggested he may travel to Turkey on Thursday for potential face-to-face talks between Russian president Vladimir Putin and Ukrainian president Volodymyr Zelenskyy.

  • Trump has pushed back on criticism for accepting the gift of a $400m (£303m) plane from Qatar’s royal family to replace Air Force One. He claimed it would be “stupid” not to accept the gift. He has said it is “a very public and transparent transaction”.

  • Donald Trump’s Middle East envoy Steve Witkoff said the president has spoken with the released US-Israeli hostage Edan Alexander, who was released yesterday after 19 months in captivity in Gaza.

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Key events

US monthly inflation rate slows amid Trump tariffs

Lauren Aratani

The pace of inflation slowed in April, the month that Donald Trump announced his sweeping “liberation day” tariffs on the US’s largest trading partners.

The annual inflation rate was 2.3% in April, down from an annual rate of 2.4% March, according to a new inflation report from the Bureau of Labor Statistics (BLS).

Core inflation, which excludes volatile energy and food prices, hit an annual rate of 2.3% in April, compared to an annual 2.4% increase in March.

While the inflation report covers April, after Trump’s announcement, it comes as businesses are still trying to figure out the impact of the tariffs. Officials at the Federal Reserve said they expect tariffs to have an impact on prices, even if only temporary.

“Certainly the risk to higher inflation [and] higher unemployment have increased,” the Fed chair, Jerome Powell, said at a press conference last week, adding that tariffs could delay inflation from reaching the Fed’s target rate of 2% by at least a year.

We would, at least for the next, say, year, not be making progress toward those goals if that’s the way tariffs shake out.

Economists also expect price increases to get worse this year. Many companies have not had to increase prices yet, as many of the goods being sold now were imported before the new tariffs were implemented.

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