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As part of the measures, the administration is also issuing an 180-day suspension of the Caesar Act, which since 2019 had sanctioned the former Syrian government.
Speaking to reporters in the Oval Office several hours after the meeting, Trump said that "we want to see Syria become a country that's very successful."
"And I think this leader can do it," he added. "I really do."
Diplomatic relations between Syria and the US have been suspended since 2012, although the US will now allow Syria to re-open its embassy in Washington.
This is the third meeting between the two leaders, following one in May on the sidelines of the Gulf Cooperation Council and a dinner during the UN General Assembly in September.
Al-Sharaa's visit to the White House caps a remarkable re-branding for the former jihadist.
Not long ago, he led a branch of Al-Qaeda - the group behind the 9/11 attacks and many others - before breaking off ties.
Even until this year, he was the leader of Hayat Tahrir al-Sham, an armed Islamist group which the US officially considered a terrorist organisation until four months ago, with a $10m bounty on his head.
The Treasury Department removed al-Sharaa from its "specially designated global terrorist list" just last week.
But since becoming interim Syrian president, al-Sharaa has worked to soften his public image as he tries to rebuild Syria, with foreign support, following 13 years of war.
"He has had a rough past," Trump said on Monday. "And I think, frankly, if you didn't have a rough past, you wouldn't have a chance."