Speaking at the Saudi-U.S. Investment Forum, President Trump has said that he will lift all U.S. sanctions on Syria.
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“I will be ordering the cessation of sanctions against Syria in order to give them a chance at greatness,” said Trump. Sources close to the Syrian presidency also stated that Syrian President Ahmed al-Sharaa will visit Trump in Riyadh, Saudi Arabia.
Trump to Remove U.S. Sanctions on Syria
The U.S. had previously placed sanctions on the country in 2011 as well as in 2004. U.S. trade with Syria is extremely scarce with exceptions for humanitarian aid and commodities. In 2024, the U.S. exported $2 million of goods to Syria and imported $10.7 million of goods, resulting in a $8.6 million trade deficit.
“In Syria, they’ve had their share of travesty, war, killing many years,” said Trump. “That’s why my administration has already taken the first steps toward restoring normal relations between the United States and Syria for the first time in more than a decade.”
The S&P 500 (SPX) has not placed much emphasis on the news and is up by nearly 1% on the day.
