President Donald Trump has been on a global mission to get countries to pay up. He wants the world’s money, and he has an audience.
The United Arab Emirates has said that over the next decade they plan on investing 1.4 trillion US dollars in the American economy.
This followed a meeting between the American Secretary of State Marco Rubio with Sheikh Tahoon Bin Zayed Al Nahyan. Shekh Tahoon is a younger full brother of the Abu Dhabi leader Sheikh Mohammad Bin Zayed. He is also the intelligence czar of the country. Moreover, his business interests dominate the UAE stock market.
Earlier in the week leading officials had met Donald Trump. Trump has already publicly demanded that countries give America their money. He wants the Saudis to pour in a trillion dollars in investment as well.
The framework will “substantially increase the UAE’s existing investments in the U.S. economy” in AI infrastructure, semiconductors, energy, and manufacturing.” The White House revealed it in a statement.
It is not exactly clear how and where this money is going to go. The United Arab Emirates is flush with cash and their sovereign wealth funds more than have the capacity to make the required investment. The Abu Dhabi Investment Authority, Mubadala, and others are easily capable of making the investments. This is just Abu Dhabi, other emirates, like Dubai have their own funds and are likely to set up to meet.
One new project that appears to be clear is the new Emirates Global Aluminium. This is going to be the first new UAE owned smelter in the US over the past 35 years. The White House went on to add that this plant “would nearly double U.S. domestic aluminum production”.
“Developing a primary aluminum smelter in the U.S. has been part of EGA’s ambitions for several years,” a spokesperson for the company said in a statement.
The UAE, is leading player in the security and energy fields. The UAE has worked closely in tendem with Washington over the past several decades and has built a strong alliance on the lines of the Saudi and Qatari relationship with the US. The country is now looking to invest in the United States in order to make sure that Donald Trump does not turn on them.
Last year the UAE President Sheikh Mohammed Bin Zaued met the then US President in order to explore areas of multual interest such as space, AI and other investments.
Gulf sovereign wealth funds, especially Abu Dhabi’s $330-billion Mubadala, have invested big the US investors. They are also not new to the Trumps and have a long-standing relationship with the first family of the US.
OVAL OFFICE MEETING
President Donald Trump has always been saying that countries need to give America more money. When he won the election back in January he asked the Saudis for more than a trillion investment over the four years during his term. He wants the Saudis and other countries to buy more military hardware from the country.
He is saying that he will now visit the country in order to close the deal.
The deal which is set to be closed most probably in April. This would be in line with the visio of the Saudi Crown Prince who has been trying to get close to America. He is also the memdiator for talks to end the Ukraine war.
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The White House said on Friday the UAE came on board resulted from a meeting that Trump had last Tuesday with national security adviser of the UAE government that is Sheikh Tahnoon bin Zayed Al Nahyan in the Oval Office. He had dinner that Vice President JD Vance and other cabinet members had with the UAE delegation, this included the heads of leading UAE sovereign wealth funds and corporations.
The UAE government’s funds are handled by Sheikh Tahnoon. He and US private equity firm Energy Capital Partners for a $25 billion U.S.-focused measures.
The Abu Dhabi National Oil Company or ADNOC has also committed to invest heavily in the UAE energy sector. This is an evolving story.
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