Treasury Secretary Steven Mnuchin Steven Terner MnuchinOn The Money: Anxious Democrats push for vote on COVID-19 aid | Pelosi, Mnuchin ready to restart talks | Weekly jobless claims increase | Senate treads close to shutdown deadline Vulnerable Democrats tell Pelosi COVID-19 compromise 'essential' Pelosi asks panels to draft new COVID-19 relief measure MORE announced Thursday that he will pull out of a major economic conference being hosted by Saudi Crown Prince Mohammed bin Salman next week in Riyadh, amid tension over the disappearance of journalist Jamal Khashoggi.

“Just met with @realDonaldTrumpand @SecPompeo and we have decided, I will not be participating in the Future Investment Initiative summit in Saudi Arabia,” Mnuchin tweeted Thursday morning.

Just met with @realDonaldTrump and @SecPompeo and we have decided, I will not be participating in the Future Investment Initiative summit in Saudi Arabia. — Steven Mnuchin (@stevenmnuchin1) October 18, 2018

Mnuchin announced his decision after meeting with President Trump Donald John TrumpSteele Dossier sub-source was subject of FBI counterintelligence probe Pelosi slams Trump executive order on pre-existing conditions: It 'isn't worth the paper it's signed on' Trump 'no longer angry' at Romney because of Supreme Court stance MORE and Secretary of State Mike Pompeo Michael (Mike) Richard PompeoPutin nominated for Nobel Peace Prize The Hill's Morning Report - Sponsored by Facebook - Trump previews SCOTUS nominee as 'totally brilliant' Pompeo accused of stumping for Trump ahead of election MORE, the latter of whom returned Wednesday from a trip to Saudi Arabia where he met with members of the royal family.

ADVERTISEMENT

The decision for Mnuchin to skip the conference is the toughest signal the administration has given against Saudi Arabia and comes after nearly a week of speculation over whether he would go to Riyadh.

He had come under pressure in recent days from Republican members of the Foreign Relations Committee to skip the conference after the disappearance of Khashoggi, a U.S.-based Saudi journalist who was a frequent contributor to The Washington Post.

Sen. Jeff Flake Jeffrey (Jeff) Lane FlakeHow fast population growth made Arizona a swing state Jeff Flake: Republicans 'should hold the same position' on SCOTUS vacancy as 2016 Republican former Michigan governor says he's voting for Biden MORE (R-Ariz.) reiterated his opposition to Mnuchin attending the conference, which had been dubbed “Davos in the Desert,” tweeting Thursday, “This is not a close call, Secretary Mnuchin. Don’t go to Riyadh.”

A large group of prominent CEOs have already announced they’re skipping the event, including JPMorgan Chase CEO Jamie Diamond, Ford Chairman Bill Ford, MasterCard CEO Aya Banga and several prominent investment chiefs such as Stephen Schwarzman of Blackstone and Larry Fink of Blackrock.

ADVERTISEMENT

Another Republican on the Foreign Relations Committee, Sen. Todd Young Todd Christopher YoungSenate GOP eyes early exit Why the US should rely more on strategy, not sanctions Davis: The Hall of Shame for GOP senators who remain silent on Donald Trump MORE (Ind.), urged Mnuchin last week to skip the conference, warning it would send a "counterproductive message," and Republican Sen. John Kennedy John Neely KennedyMORE (La.) said Wednesday that Mnuchin's attendance would not be appropriate.

Mnuchin had wrestled for days with the decision about whether to attend the conference, which is scheduled to begin Oct. 23.

He was initially expected to announce his decision by Friday but then the timing was moved up to Thursday after he came under increasing pressure from Republicans and Democrats.

On Wednesday, twelve House Democrats led by Rep. Bonnie Watson Coleman Bonnie Watson ColemanDemocrats smell blood with new DHS whistleblower complaint New Jersey incumbents steamroll progressive challengers in primaries New Jersey Rep. Bonnie Watson Coleman wins Democratic primary MORE (D-N.J.) sent a letter to Mnuchin warning him “we cannot continue to turn a blind eye for the convenience of short-term economic gains from arms agreements.”

Trump over the weekend touted a pending arms sale to Saudi Arabia as a major potential boost to the U.S. economy, predicting it could support as many as 450,000 jobs.

White House senior adviser Jared Kushner Jared Corey KushnerAbraham Accords: New hope for peace in Middle East Tenants in Kushner building file lawsuit alleging dangerous living conditions Trump hosts Israel, UAE, Bahrain for historic signing MORE, Trump’s son-in-law, has cultivated a relationship with Crown Prince Mohammed, and the administration sees Saudi Arabia as important to managing the Israeli-Palestinian peace talks and balancing Iran’s influence in the region.