Politics
Trump Secures Another $200 Billion U.S. Investment During Middle East Trip
President Donald Trump facilitated over $200 billion in commercial deals between the United States and the United Arab Emirates during his historic Middle East trip, the White House announced Thursday.
Among the deals negotiated between the two countries was a $14.5 billion commitment from Ethiad Airways to invest in 28 American-manufactured aircraft from Boeing and GE Aerospace.
Emirates Global Aluminum is also investing $4 billion to develop a primary aluminum smelter project in Oklahoma, while Holtec International and IHC Industrial Holding Company committed to building a fleet of small modular reactors in Michigan, Fox Business reported.
In addition, Qualcomm is investing in a global engineering center in Abu Dhabi which will “focus on AI, data centers, and industrial [internet of things],” the White House announced.
“RTX is [also] partnering with Emirates Global Aluminum and the UAE’s Tawazun Council on a pioneering Gallium project that will help secure and stabilize the United States’ critical mineral supply chain,” reads a White House memo outlining the deals.
“By diversifying sources of this essential input for semiconductors and defense technologies, the partnership strengthens America’s supply security, supports high-tech manufacturing, and creates jobs across the U.S. critical minerals and defense industrial base.”
After meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan, Trump expressed confidence that the relationship between the two nations will only get “bigger and better.”
“Your wonderful brother came to Washington a few weeks ago and he told us about your generous statement as to the 1.4 trillion,” the president said in reference to a pledge from the UAE to invest $1.4 trillion in the United States over 10 years.
“And all I can say is thank you very much,” Trump added. “We will work very hard to deserve it.”
Dubai’s Burj Khalifa, the world’s tallest building, lit up with the American flag tonight in honor of President Trump’s visit to the UAE
The new commitments from the UAE come just a day after the neighboring gulf nation of Qatar pledged to make $1.2 trillion in U.S. investments over the next decade.
Within the agreement are stipulations that Qatar Airways, the Middle East’s premier airline travel service, will purchase $96 billion worth of 210 Boeing 787 Dreamliner and 777X airplanes with GE Aerospace engines. A statement of intent signals that another $38 billion in U.S.-made defense goods may be purchased to fortify Qatar’s Al Udeid Air Base and fill other maritime security needs.
“This historic agreement will support 154,000 U.S. jobs annually, totaling over 1 million jobs in the United States during the course of production and delivery of this deal,” a White House overview of the deal states.
