Trump Considers Bailing Out His Family's Major Business Partner
newrepublic.com

... The Trump administration is considering a bailout for the United Arab Emirates over economic losses sustained as a result of the U.S. war with Iran.

The Wall Street Journal reported Sunday that UAE officials are speaking with the White House about providing financial relief, such as a currency swap, if their economy takes an even bigger hit during the war. Khaled Mohamed Balama, governor of the UAE's central bank, raised the issue in meetings with Treasury Secretary Scott Bessent last week. UAE officials reportedly have said their finances are OK for now, but they could need help in the future.

In an interview with CNBC Monday morning, Kevin Hassett, director of the National Economic Council, said that while he hadn't spoken directly with Bessent about it, if the Strait of Hormuz remains closed and continues to hurt the UAE's economy, the Trump administration would be willing to provide help.

"The UAE has been an incredibly valuable ally throughout this effort, and I am sure that the treasury secretary will make every effort to help them out should that be necessary," Hassett said. ...