President Trump told reporters that the U.S. is considering a currency swap with the United Arab Emirates.
Speaking on CNBC’s “Squawk Box,” Trump said, “It’s been a good ally of ours. And you know, these are unusual times.”
“They were able to shoot down most of them, but they did get hit hard,” he added. “They were hit the hardest of the group, actually.”
“You know they’re very good for this country,” Trump said of the UAE. “If I could help them, I would. I mean, we’re helping them much more with what we’re doing with the war because, you know, the bully of the Middle East was Iran.”
Emirati Ambassador to the United States Yousef Al Otaiba responded to the comments in a statement on X, writing, “We very much appreciate President Trump’s recognition of the UAE as one of America’s most important economic & trade partners. That recognition reflects the depth of a relationship built on mutual interest, mutual investment & long-term strategic confidence.” He noted, however, that any “suggestion that the UAE requires external financial backing misreads the facts” and called the UAE “one of the world’s most financially resilient economies.”
“The UAE and the United States will continue to prosper together for decades to come, not because one depends on the other for support, but because both benefit from one of the world’s most important economic partnerships,” he added.
Last year, the United Arab Emirates pledged to invest $1.4 trillion in the United States over the next decade. The framework would “substantially increase the UAE’s existing investments in the U.S. economy in AI infrastructure, semiconductors, energy, and American manufacturing,” the White House said at the time.
