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Donald Trump

The latest news, analysis and opinion on Donald Trump and his impact on Middle East business from AGBI

Gulf Trump tariffs, US GCC trade, US GCC tariffs, US Gulf trade, US Gulf tariffs

Gulf likely to escape Trump tariffs, analysts say

Saudi Arabia, the UAE and the other Gulf Arab states are likely to escape US President Donald Trump’s tariff ire, analysts say. This is because the world’s largest economy by and large runs a trade surplus with them, their value added tax (VAT) is relatively low and they peg their currencies to the US dollar. […]

Gold is moulded into bars at a refiner in Switzerland. An orders backlog means US banks are widening their search for kilobars

US banks buy Dubai gold to counter potential tariffs

Dubai is among several global gold centres benefiting from fears among US banks that President Donald Trump might impose duties on the precious metal, analysts say. A backlog at refining facilities in Switzerland has added to US banks’ concerns about the availability of bullion. “There is now a real concern about the tariffs being imposed […]

US President Donald Trump and Saudi Crown Prince Mohammed bin Salman discussing mutual trade, during Trump's first term

$600bn Saudi-US trade pledge ‘unlikely to be achieved’

Saudi Arabia’s pledge to increase trade and investment with the US to at least $600 billion over President Trump’s four-year term is “very optimistic” and “unlikely to be achieved,” according to a Washington-based think tank. Instead the kingdom is prioritising domestic projects and faces lower oil revenue. The commitment was made by Crown Prince Mohammed […]

Trump steel tariff

What Trump’s steel tariffs mean to the Middle East

Donald Trump’s proposed US steel tariffs will put Turkish producers most at risk in the Middle East, while Gulf steel exporters will be sheltered from the worst of the damage, experts have told AGBI. On Sunday Mr Trump, the newly elected US president, said he would soon unveil 25 percent import taxes on all steel […]

Men look at jewellery in the gold souk, Dubai. An unprecedented amount of gold has been sent from Dubai and other markets to New York in recent days in response to tariffs

Trump’s tariffs inject volatility into metal markets

President Donald Trump’s on-again, off-again tariffs have increased uncertainty for global metals and minerals markets.  Demand for gold – a traditional safe haven – soared on Tuesday, with the price of international spot gold rising to $2,819.46 an ounce. The precious metal was trading still higher on Wednesday morning at $2,851.21 an ounce. This is despite […]

US President Donald Trump with China's President Xi Jinping at a G20 conference: both countries are vying for Gulf trade

A 10% tariff on China – and a tricky calculation for the Gulf

At one minute past midnight in Washington, the United States’ 10 percent tariff on Chinese imports came into effect. Beijing retaliated moments later, announcing even heavier levies on US goods from next week. Canada and Mexico were granted a temporary reprieve after talks on Monday, but there was no last-minute deal for President Donald Trump […]

Trump tariffs ‘pose long-term risk to Gulf’, say economists

Short-term gains possible Uncertainty over oil prices High interest rates may persist Gulf economies could benefit in the short term from a tariff-led trade war between the US and some of its major partners, but they face longer-term ri... Register now: It’s easy and free This content is available for registered members only. Register for […]

Indoors, Interior Design, Wood The logo for Goldman Sachs on the trading floor at the New York Stock Exchange. The investment bank kept its 2025-26 oil price forecasts unchanged

Trump’s tariffs will not move oil prices, says Goldman Sachs

The new tariffs imposed by US President Donald Trump on imports from Canada, Mexico and China are likely to have a limited near-term impact on global oil and gas prices, Goldman Sachs said in a note on Sunday. “Potential tariff-driven decline in US natural gas imports from Canada is too small to significantly raise US […]

Jewellery makers will feel the impact of rising silver prices, as will industries including solar photovoltaics and electric vehicles

Tight supply and strong demand pressure silver prices

Gulf investors – and romantics – may have to keep a watchful eye on silver in the months ahead as tight supply and strong demand make their impact on prices. This will not only have consequences for those looking for jewellery, but also for industries ranging from solar photovoltaics (PV) to electric vehicles (EVs), and […]

Donald Trump delivers a speech at an oil drilling rig in Texas. He said last week that the US is 'not going to do the wind thing'

Trump’s climate agenda ‘may push UAE investors away from US’

Masdar and the UAE’s other renewable energy companies may need to rethink their US investments now that President Donald Trump has pulled the plug on new offshore wind projects, industry watchers have warned. “We’re not going to do the wind thing. Big, ugly windmills. They ruin your neighbourhood,” Trump said on his return to the […]

Almasadam Satkaliyev, Kazakhstan's energy minister, told a briefing that Opec+ will meet to discuss a response to Trump's plans

Opec+ to take joint stance on Trump oil policy

The Opec+ group of leading oil producers is set to discuss President Donald Trump’s efforts to raise US oil production and take a joint stance on the matter, Kazakhstan said on Wednesday. Trump last week laid out a sweeping plan to help maximise oil and gas production, including by declaring a national energy emergency to speed up permitting […]

Tax specialists in the GCC are curious as to how Trump's stance will affect their compliance

GCC weighs impact of Trump’s global corporate tax moves

Tax professionals in the Gulf are assessing how President Donald Trump’s pull-back of US support for an international corporate tax framework might affect GCC states’ implementation of it. In a day-one executive order last week, the returning US president repudiated “any commitment” made by the previous Biden administration toward the Organisation for Economic Co-operation and […]

Turkish president Tayyip Erdoğan at the White House with Donald Trump in 2019. Any US tariffs directed at the EU or China could hurt Turkey

Turkey becomes a short-term investor haven from Trump

Turkey is being seen as a relatively safe harbour among emerging markets by investors looking to shield their funds from aggressive US trade policies, although Ankara is not immune to Washington’s ire.  There has been a recent move back into Turkish debt stock, with local bonds attracting $1.9 billion in foreign capital in the first […]