President Donald Trump’s recent Middle East tour concluded with significant business deals, particularly with the UAE. These agreements, spanning various sectors from AI to energy, highlight deepening economic ties and raise questions about potential conflicts of interest given the Trump family’s expanding business ventures in the region.
Trump’s Middle East Diplomatic and Business Blitz
President Donald Trump recently concluded a high-stakes diplomatic and business tour of the Middle East, with significant stops in Saudi Arabia, Qatar, and the United Arab Emirates. This trip, marking his first international diplomatic engagement of his second term, was characterized by a blend of state-level agreements and the expansion of the Trump family’s business interests across the region.
UAE-US Business Dialogue Yields Trillion-Dollar Commitments
In Abu Dhabi, President Trump and Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan attended the UAE–US Business Dialogue. This event underscored existing collaborations and unveiled new agreements, notably a commitment from the UAE to invest an astounding $1.4 trillion in the US AI sector over the next decade. Key sectors targeted for investment and cooperation include:
- Energy: Strategic agreements facilitating up to $60 billion in American investments in UAE energy projects, including ADNOC’s development plan with ExxonMobil and an agreement with Occidental.
- Aviation: Etihad Airways confirmed orders for 28 Boeing 787 and 777X aircraft, equipped with GE engines.
- Technology and Innovation: Abu Dhabi Investment Office (ADIO) partnered with Qualcomm to establish an advanced global engineering center in Abu Dhabi. e& and Qualcomm also announced collaboration on 5G and AI technologies.
- Manufacturing: Emirates Global Aluminium (EGA) plans to invest $4 billion in the first new primary aluminum production plant in the US since 1980.
- Healthcare: Initiatives focused on leveraging advanced technologies, including collaborations between M42, Oracle Health, G42, and Cleveland Clinic.
- Sports, Entertainment, and Tourism: Review of joint initiatives such as the Disney Theme Park Resort project in Abu Dhabi, continued hosting of UFC and NBA events, and the Guggenheim Abu Dhabi museum project.
Trump Family Business Ventures Under Scrutiny
The tour also brought renewed attention to the Trump family’s expanding business footprint in the Middle East, raising ethical concerns and potential conflicts of interest. The Trump Organization, now run by Eric and Donald Trump Jr., has announced several new projects in the region:
- United Arab Emirates: Development of an 80-story Trump International Hotel & Tower in Dubai, in partnership with Dar Global. This adds to the existing Trump International Golf Club in Dubai.
- Qatar: A Trump International Golf Club Simaisma outside Doha, in partnership with Dar Global and Qatari Diar, a state-owned real estate firm. This deal has drawn particular scrutiny due to the Trump Organization’s commitment to limit new business with foreign governments.
- Saudi Arabia: A 47-story Trump Tower in Jeddah, also with Dar Global, and two other real estate developments in Riyadh.
Cryptocurrency Deal Raises Eyebrows
Adding another layer of complexity, an Abu Dhabi-backed government fund, MGX, announced a $2 billion purchase of a minority stake in Binance, the world’s largest crypto exchange. This deal is notable because it will be conducted using USD1, a cryptocurrency created by World Liberty Financial, the Trump family’s cryptocurrency firm. Donald Trump serves as the company’s "chief crypto advocate," with his sons Eric and Donald Trump Jr. as "Web3 ambassadors," and Barron Trump as "DeFi visionary." This arrangement has sparked questions about favoritism and influence-peddling, especially given Binance’s recent legal issues and its founder’s reported pursuit of a pardon from the Trump administration.
Sources
- UAE-backed firm to use Trump family crypto to buy $2B stake in Binance, New York Post.
- Trump Is Visiting 3 Countries Where His Family Business Made Recent Deals, Business Insider.
- Donald Trump updates: US president ends Middle East tour with more deals | Donald Trump News, Al Jazeera.
- Crown Prince of Abu Dhabi and US President attend UAE–US Business Dialogue, مكتب أبوظبي الإعلامي.
- US-UAE business dialogue launches in Abu Dhabi as Trump concludes Gulf tour, TRT Global.
