The United Arab Emirates will invest $1.4 trillion in the United States over ten years. The agreement was reached after a meeting between President Donald Trump and Sheikh Tahnoun bin Zayed Al Nahyan, the UAE's national security adviser, Reuters reported, citing a White House spokesman.
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What is known
The agreements cover artificial intelligence, semiconductors, energy and American manufacturing and will “significantly increase the UAE’s current investment in the US economy.”
The White House did not specify how the UAE's investment would reach $1.4 trillion, the agency notes. However, some of the agreements presented under the program have already been announced.
The only truly new deal appears to have been Emirates Global Aluminium's investment in the first new aluminium smelter in the United States in 35 years.
The White House said the plant “will nearly double U.S. domestic aluminum production.”
Let us recall
Gulf sovereign wealth funds, including Abu Dhabi's $330 billion Mubadala, are already major investors in the U.S., and Trump and his family have business ties to the region.
- US Investments