Former President Donald Trump’s recent Middle East tour, encompassing Saudi Arabia, Qatar, and the UAE, has been marked by significant business deals and a lavish reception. However, the trip has also ignited controversy due to the Trump family’s deepening financial ties in the region, particularly a $2 billion cryptocurrency deal involving an Abu Dhabi-backed firm.
Trump’s Middle East Tour: A Whirlwind of Deals and Diplomacy
Donald Trump’s four-day Middle East tour, his first major overseas trip since leaving office, focused heavily on securing financial commitments and strengthening economic ties. The former president was met with extravagant welcomes, including fighter jet escorts, red carpets, and elaborate ceremonies, a stark contrast to the reception he might receive in other parts of the world.
- UAE Investments: The United Arab Emirates committed to a 10-year, $1.4 trillion investment framework in the U.S., focusing on sectors like energy, AI, and manufacturing. This includes a path for the UAE to purchase advanced AI semiconductors from American companies, a deal Trump hailed as generating "billions and billions of dollars in business." Additionally, new deals totaling over $200 billion were announced with the UAE, including a $14.5 billion commitment from Etihad Airways for 28 American-made Boeing aircraft.
- Energy Sector Boost: Abu Dhabi pledged to increase the value of its energy investments in the U.S. to $440 billion by 2035, up from $70 billion currently. U.S. energy firms are also expected to invest in the UAE’s upstream oil and gas sectors.
- Syria Sanctions Lifted: In a significant policy shift, Trump announced the lifting of sanctions on Syria, paving the way for an $800 million memorandum of understanding between the Syrian government and Dubai-based DP World to develop Syria’s port of Tartous.
- Qatar’s Contributions: Qatar pledged billions of dollars in investments in American goods and services, including the purchase of American-made Boeing planes. The Emir of Qatar also adopted Trump’s energy slogan, "Drill, baby, drill."
Controversy Over Family Business Ties
The tour has drawn criticism regarding potential conflicts of interest stemming from the Trump family’s business ventures in the region.
- Cryptocurrency Deal: A major point of contention is the $2 billion investment by an Abu Dhabi-backed firm, MGX, into World Liberty Financial, a cryptocurrency venture whose primary beneficiaries are the Trump and Witkoff families. The deal utilizes World Liberty’s stablecoin, USD1, and is expected to generate substantial fees and interest payments for the families. Donald Trump is listed as the company’s "chief cryptocurrency advocate," with his sons Eric and Donald Jr. as "Web3 ambassadors," and Barron Trump as "DeFi visionary."
- Steve Witkoff’s Role: Steve Witkoff, a real estate developer and long-time Trump associate, serves as Trump’s special envoy to peace talks in the Middle East and Russia. He is also a co-founder of World Liberty Financial, raising concerns about the blurring lines between public service and private profit. Critics, including Democratic senators, allege a "quid pro quo" between the Abu Dhabi investment and the U.S. decision to relax restrictions on semiconductor exports to the UAE.
- Emoluments Clause Concerns: Ethics officials from previous administrations have raised concerns that the Trump and Witkoff families’ income from World Liberty’s crypto sales could violate the U.S. Constitution’s emoluments clause, which prohibits federal officers from accepting payments from foreign governments.
A "Dream Trip" for Trump
Throughout the tour, Trump enjoyed a level of adulation and respect that he rarely experiences at home. Gulf leaders lauded his approach, which prioritizes economic deals over human rights concerns. The absence of protests, a common feature of his visits elsewhere, contributed to what Trump described as an "amazing" trip. He expressed satisfaction with the respect shown to the U.S. and the significant financial commitments secured, though he humorously noted that a future president might take credit for the long-term benefits of these deals.
Sources
- Trump wraps up Gulf tour with AI and energy deals in UAE, Reuters.
- Inside Trump’s Trip to the Middle East: Adulation and Not a Whiff of Protests, The New York Times.
- Trump and special envoy Witkoff stand to reap rewards from official business | Donald Trump, The Guardian.
- May 15, 2025 – Trump Middle East trip and presidency news, CNN.
- UAE-backed firm to use Trump family crypto to buy $2B stake in Binance, New York Post.
