Latest news with #AmericanCompanies
Bloomberg
2 days ago
- Business
- Bloomberg
Trump, Xi Have Crossed Wires on Rare Earths, Trade Expert Says
The US and China appear to have different understandings of what was agreed on rare earths at last month's trade talks in Geneva, according to an expert on critical minerals policy. China's exports of the materials used in critical technology from fighter jets to smartphones have become a major flashpoint between the world's top economies, with US officials alleging Beijing hasn't honored a commitment to resume shipments. A supply shortfall has already affected some American companies.
CNN
3 days ago
- Business
- CNN
Boulder Suspect Charged With 16 Counts Of Attempted Murder - The Lead with Jake Tapper - Podcast on CNN Audio
Boulder Suspect Charged With 16 Counts Of Attempted Murder The Lead with Jake Tapper 88 mins The suspect in yesterday's horrific terrorist attack just made his first court appearance. This as we learn more about the 12 people who were injured including a holocaust survivor. Plus, President Trump threatens to impose tariffs on two major American companies. We look at why the White House would go after American companies and how it may affect consumer prices.
Khaleej Times
4 days ago
- Business
- Khaleej Times
Trump's GCC tour redefining UAE's role as investment hub
US President Donald Trump's whirlwind tour of the GCC nations — the UAE, Saudi Arabia, and Qatar — beginning on May 13, 2025, has unleashed a transformative wave of economic opportunities, bolstering the UAE's position as a global hub for innovation and investment. With over $2.8 trillion in agreements spanning artificial intelligence (AI), aviation, defence, and energy, the visit has deepened US-GCC strategic partnerships, driving bilateral trade, technological collaboration, and foreign direct investment (FDI). The UAE, already a regional economic powerhouse, stands to benefit significantly, with deals worth $200 billion directly impacting its markets, alongside broader commitments like Qatar's $1.2 trillion economic exchange and Saudi Arabia's $600 billion investment pledge to the US. These agreements, coupled with the UAE's 10-year, $1.4 trillion investment framework, signal a new era of economic synergy, though not without risks and complexities. The UAE's Minister of Economy, Abdulla bin Tou Al Marri, described the visit as a 'milestone in fostering economic openness and global collaboration,' emphasising the historic US-UAE partnership rooted in mutual respect. With non-oil trade reaching $32.8 billion in 2024 — 4% of the UAE's global non-oil trade — the US remains the UAE's largest non-Asian trading partner. Nearly 13,000 American companies operate in the UAE, with over 66,000 US trademarks registered by 2024, while 115 Emirati firms thrive in the US across healthcare, technology, and aviation. Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, highlighted the shared commitment to prosperity, noting: 'Our efforts focus on enhancing the flow of goods, services, and capital.' Total bilateral trade reached $39.8 billion in 2024, up from $12.7 billion in 2010, reflecting a diversified exchange, with the UAE as the world's second-largest aluminium exporter, critical to US markets. Trump's tour catalysed landmark frameworks like the US-UAE AI Acceleration Partnership, aimed at advancing AI, cloud infrastructure, and advanced computing. A draft agreement could see the UAE import 500,000 Nvidia AI chips annually from 2025, with 100,000 allocated to G42, a UAE-based AI firm backed by Mubadala and Silver Lake, and the rest supporting US tech giants like Microsoft and Oracle for data centre expansion. This deal, potentially extending to 2030, requires G42 to build equivalent facilities in the US, ensuring mutual benefits. The Abu Dhabi data centre, set to be the largest outside the US, underscores the UAE's ambition to become a global AI hub. Microsoft's $1.5 billion investment in G42 in 2024 further exemplifies this synergy, positioning chipmakers like Nvidia and AMD, and cloud providers like Amazon, for growth, though US export controls on advanced chips pose risks. Aviation agreements were a cornerstone, with Gulf airlines, including Etihad Airways, committing billions to Boeing widebody jets powered by GE Aerospace engines. Etihad's $14.5 billion order reflects robust post-Covid demand for long-haul travel, with global airline capital expenditure projected to grow 7.2% annually through 2030, as per IATA. Boeing and GE Aerospace are poised for sustained revenue, but supply chain bottlenecks could delay deliveries. Defence deals, totalling $180 billion, focused on drones, missile systems, and aircraft, with Raytheon, Lockheed Martin, and Northrop Grumman securing multi-billion-dollar contracts aligned with regional security priorities. Saudi Arabia's $142 billion arms deal, the largest in history, may unfold over decades, introducing execution risks due to long production cycles and compliance hurdles. Energy commitments were equally significant, with the UAE's Adnoc partnering with ExxonMobil, Occidental Petroleum, and EOG Resources for a $60 billion oil and gas expansion. Qatar's LNG terminals and clean energy projects align with the GCC's energy diversification goals, with renewable energy capacity in the region expected to reach 35 GW by 2030, per Irena. Emirates Global Aluminium (EGA) announced a new US smelter to double domestic production, part of the UAE's $1.4 trillion US investment pledge, enhancing supply chain resilience for materials and industrial sectors. Vijay Valecha of Century Financial noted that the $200 billion in UAE-specific deals has spotlighted the country's stable political climate and financial hub status, boosting liquidity and trading volumes. The UAE's FDI inflows reached $22.7 billion in 2024, per UNCTAD, with expectations of further growth as the country targets 5 per cent of GDP in FDI by 2030. Saudi Arabia's $600 billion investment commitment, including $9.5 billion in 2023 across transportation, real estate, and automotive sectors, reflects similar ambitions. The Saudi Public Investment Fund (PIF) has expanded into ride-sharing, gaming, and electric vehicles, aligning with Vision 2030's diversification goals. Qatar's $1.2 trillion economic exchange emphasises infrastructure and technology, with FDI inflows rising to $1.8 billion in 2024, per the Qatar Investment Authority. These investments counter a regional FDI decline, with Saudi Arabia's FDI dropping to $20.7 billion (1.9% of GDP) in 2024, as per Oxford Economics. Trump's unexpected decision to lift US sanctions on Syria, announced during the tour, removes barriers to the country's recovery, potentially boosting GCC trade with the Levant. Progress towards an Iran nuclear deal, facilitated by Oman, introduces upside risks for regional economic stability, though uncertainties persist. The GCC's strategic maritime position on East-West trade routes and influence in global economic debates — spanning sovereign debt and monetary system reforms — elevate its importance to the US administration. The US trade surplus with the GCC, coupled with a 10 per cent tariff rate compared to 70% for others, underscores the region's favoured status, per White House fact sheets. Despite the optimism, risks loom. Charu Chanana of Saxo Bank highlights US export controls on AI chips, which could impact Nvidia and AMD, and execution delays due to supply chain constraints affecting defence and energy projects. Geopolitical volatility, including Middle East tensions and Red Sea disruptions, could derail deals, while high valuations in AI and defence stocks risk corrections. Heavy reliance on state-owned entities like Adnoc and G42 introduces concentration risks, necessitating diversified strategies. Global protectionism, with trade tensions at record levels, adds complexity, though the GCC's low tariff rates mitigate some impacts. The UAE's economic ascent is further evidenced by its fintech and crypto sectors, with $30 billion in crypto investments in 2024 and a 210% adoption surge, as per Atmos. This aligns with Trump's deals, particularly in AI and technology, positioning the UAE as a leader in digital finance. The country's regulatory frameworks, including DIFC and ADGM, foster innovation while ensuring stability, attracting $1.1 billion in startup funding across 207 deals in 2024, according to Magnitt. Trump's tour has redefined US-GCC economic ties, unlocking opportunities that align with the UAE's vision for diversification and innovation. For investors, AI, aviation, defence, and energy offer significant potential, but a selective approach is crucial to mitigate risks. As Maya Senussi of Oxford Economics notes, the $1 trillion in US-bound investments signals the GCC's growth ambitions, catalysing stronger FDI inflows and reshaping global economic dynamics. As analysts observed, with the UAE at the forefront, Trump's visit marks a pivotal moment, reinforcing the region's role as a beacon of opportunity in a volatile global landscape.
CNN
28-05-2025
- Business
- CNN
Trump administration orders some US companies to halt sales to China
The Trump administration has effectively cut off some American companies from selling goods to China, a Commerce Department spokesperson told CNN on Wednesday. The spokesperson said the department is 'reviewing exports of strategic significance to China. In some cases, Commerce has suspended existing export licenses or imposed additional license requirements while the review is pending.' This is a developing story and will be updated.
CNN
28-05-2025
- Business
- CNN
Trump administration orders some US companies to halt sales to China
The Trump administration has effectively cut off some American companies from selling goods to China, a Commerce Department spokesperson told CNN on Wednesday. The spokesperson said the department is 'reviewing exports of strategic significance to China. In some cases, Commerce has suspended existing export licenses or imposed additional license requirements while the review is pending.' This is a developing story and will be updated.
