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Over 850 Companies Plan to Join 'Made in Saudi' Program

A general view of the Saudi capital Riyadh. (Reuters)
A general view of the Saudi capital Riyadh. (Reuters)
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Over 850 Companies Plan to Join 'Made in Saudi' Program

A general view of the Saudi capital Riyadh. (Reuters)
A general view of the Saudi capital Riyadh. (Reuters)

Secretary-General of Saudi Export Development Authority (Saudi Exports) Faisal Al-Bedah revealed on Wednesday that more than 850 companies have applied to join the "Made in Saudi" program.

Al-Bedah highlighted the program’s objectives, namely increasing domestic consumption and market share of domestic goods and services, increasing Saudi non-oil exports in priority export markets, and enhancing the attractiveness of the Saudi industrial sector for domestic and foreign investment.

“Made in Saudi program promoted national identity, boosted the contribution of the private sector to the economy, launched the capabilities of promising non-oil sectors by developing their exports, and enabled the creation of teams through small and medium-sized enterprises and micro-enterprises," said Al-Bedah.

Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef, who is also the authority’s chairman, launched the initiative under the patronage of Saudi Arabia's Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense.

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Rubio Says US Could Engage in New Trade Deals after Tariffs Imposed

US Secretary of State Marco Rubio disembarks from his vehicle as he walks to board his airplane prior to departing Quebec City Jean Lesage International Airport in Quebec, Canada, Friday, March 14, 2025. (Saul Loeb, Pool Photo via AP)
US Secretary of State Marco Rubio disembarks from his vehicle as he walks to board his airplane prior to departing Quebec City Jean Lesage International Airport in Quebec, Canada, Friday, March 14, 2025. (Saul Loeb, Pool Photo via AP)
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Rubio Says US Could Engage in New Trade Deals after Tariffs Imposed

US Secretary of State Marco Rubio disembarks from his vehicle as he walks to board his airplane prior to departing Quebec City Jean Lesage International Airport in Quebec, Canada, Friday, March 14, 2025. (Saul Loeb, Pool Photo via AP)
US Secretary of State Marco Rubio disembarks from his vehicle as he walks to board his airplane prior to departing Quebec City Jean Lesage International Airport in Quebec, Canada, Friday, March 14, 2025. (Saul Loeb, Pool Photo via AP)

Once the United States has imposed tariffs on its major trading partners it could engage in bilateral talks with countries on new trade arrangements, Secretary of State Marco Rubio said on Sunday.

US President Donald Trump threatened on Thursday to slap a 200% tariff on wine, cognac and other alcohol imports from Europe, opening a new front in a global trade war that has roiled financial markets and raised recession fears.

Rubio said the United States would retaliate against nations that had imposed tariffs on it.

“This is global. It's not against Canada, it's not against Mexico, it's not against the EU, it's everybody,” he told the CBS show “Face the Nation.”

“And then, from that new baseline of fairness and reciprocity, we will engage - potentially - in bilateral negotiations with countries around the world on new trade arrangements that make sense for both sides,” he continued.

Rubio, who did not give details of what the new deals could look like, said the United States would “reset the baseline” to ensure it was treated fairly.

“We don't like the status quo. We are going to set a new status quo, and then we can negotiate something, if they (other nations) want to,” he said. “What we have now cannot continue.”