WASHINGTON (Reuters) - President Donald Trump said on Wednesday he will soon have an announcement on whether the U.S. will ease microchip export restrictions to some Gulf countries.

"We might be doing that, yeah," Trump said. "And it will be announced soon."

Trump is preparing for his first major diplomatic trip next week that includes a three-country Middle East tour that begins in Saudi Arabia.

The Biden administration imposed strict controls on exports of American AI chips to the Middle East over fears the prized semiconductors could be diverted to China and harnessed to bolster Beijing's military. But Trump has made improving ties with some countries in the region a key goal of his administration.

Trump also said that he also plans to soon address reports that the U.S. is moving to change the name of the Persian Gulf to the Arabian Gulf or Gulf of Arabia. Such a move would be welcomed by Arab Gulf leaders and likely draw anger from Iran.