The average American is paying over $4 a gallon for gas. Grocery bills have skyrocketed. Families are cutting back on essentials just to make ends meet. The White House has no bailout plan for them.
But for an autocratic monarchy in the Middle East? President Trump says he’s open to writing a check.
On Tuesday, President Trump said he is considering a financial bailout for the United Arab Emirates, an autocratic state experiencing an economic downturn due to the war in Iran. If the Trump administration does use public resources to rescue the UAE, it will be assisting a country that has partnered extensively with the Trump Organization and the Trump family.
The Proposal
On Sunday, the Wall Street Journal reported that UAE Central Bank Governor Khaled Mohamed Balama “raised the idea of a currency-swap line” during meetings in Washington, D.C., last week with Treasury Department and Federal Reserve officials, including Treasury Secretary Scott Bessent. Officials from the UAE said that they “had so far avoided the worst economic effects of the conflict but might still need a financial lifeline.” According to the Journal, a formal request has not yet been made.
UAE officials argued that the war between the US and Iran could damage the country’s economy and harm its global financial standing. The war has already damaged the country’s oil and gas infrastructure, and Iran’s closure of the Strait of Hormuz has cut off oil shipments that are a key source of dollar revenue.
If the US agreed to the UAE’s proposal for a currency-swap line, the UAE central bank would get inexpensive access to dollars to support its currency or shore up its foreign reserves in case of a liquidity crisis. While swap lines are usually offered by the Federal Reserve, officials told the Journal that it is unlikely that one would be approved for the UAE. But the Trump administration has also provided financial bailouts through the Treasury Department. In September, for example, Bessent announced a $20 billion swap line to bail out Argentina.
Bailouts are typically reserved for countries with deep economic ties to the US to avoid adverse consequences for the American economy. But the UAE is not a major trading partner of the US. In 2024, goods and services trade between the US and the UAE totaled an estimated $47.9 billion. In comparison, trade between the US and Canada totaled $909 billion, and trade with the UK was $340.1 billion.
The American Reality
While the White House considers a bailout for a wealthy Gulf monarchy, American families are struggling. The national average for a gallon of regular gas sits at approximately $4.00-$4.16, according to AAA. Food inflation remains stubborn, with grocery prices significantly higher than pre-pandemic levels. The cost of eggs, bread, milk, and meat continues to strain household budgets.
The Federal Reserve has kept interest rates elevated to combat inflation, making credit card debt, car loans, and mortgages more expensive. Housing remains unaffordable for millions. Polling consistently shows that a majority of Americans report living paycheck to paycheck.
There is no pending bailout for American families. No currency-swap line for struggling households. No rescue package for those who cannot afford their next meal.
But for the UAE, the administration is already signaling yes.
The Administration’s Position
On Monday, National Economic Council Director Kevin Hassett, one of Trump’s top economic advisors, was asked about the potential bailout during an interview with CNBC. “The UAE has been an incredibly valuable ally throughout this effort, and I’m sure the Treasury Secretary will make every effort to help them out should that be necessary,” Hassett said.
On Tuesday, Trump indicated that he was open to the proposal during an interview with CNBC. Trump was asked if a currency swap with the UAE was under consideration. “It is,” Trump responded. “It’s been a good country, it’s been a good ally of ours. And you know these are unusual times. They’re very good for this country, so yeah, if I could help them I would.”
Notably, Trump himself acknowledged the UAE’s wealth during the interview. “I am surprised because they are really rich,” he said — a comment that has raised further questions about why a bailout would be necessary.
The UAE has also stated that it has more than $300 billion in foreign currency reserves held by its central bank and has already invested more than $1 trillion in the US economy.
The Business Ties
Since retaking office, Trump and his family have benefited greatly from deals with UAE officials and businessmen. Just days before Trump was inaugurated in 2025, Emirati royal Sheikh Tahnoon bin Zayed Al Nahyan secretly purchased a 49 percent stake in the Trump family’s cryptocurrency firm, World Liberty Financial. Half of the sale was paid up front, resulting in a windfall of $187 million for entities tied to the Trump family.
Five months later, MGX — a state-backed UAE investment fund chaired by Tahnoon — used $2 billion worth of USD1, a stablecoin issued by World Liberty Financial, to finance an investment in the crypto exchange Binance. The deal will generate hundreds of millions of dollars for Trump and his family members.
Two weeks after that, the Trump administration made a deal to give the UAE hundreds of thousands of advanced computer chips that the country had been seeking for years.
The Trump family has also brought in millions by licensing the Trump name to a golf course and a real estate development in the UAE. The golf course was built outside Dubai by developer DAMAC, which reportedly pays the Trump Organization millions annually to use the Trump name. The Trump Organization signed a similar licensing agreement with developer Dar Global in April 2025 to construct a Trump-branded hotel and residential building in Dubai.
Trump’s son-in-law, Jared Kushner, who holds a top diplomatic role, has also profited from investments from the UAE. In 2021, Kushner’s private equity firm Affinity Partners received a $200 million investment from the UAE’s sovereign wealth fund and another $1.5 billion from entities controlled by the Qatari and Emirati governments in late 2024. Exactly how much of the $1.5 billion came from the UAE is undisclosed.
The Conflict of Interest Question
The pattern is undeniable. The UAE has invested heavily in Trump family businesses. It has purchased stakes in Trump’s crypto firm. It has paid millions to license the Trump name. It has invested in Kushner’s private equity fund. And now, the Trump administration is considering a taxpayer-funded bailout for that same country.
There is no evidence that the bailout discussions are directly linked to the UAE’s investments in Trump entities. But the appearance of a conflict is glaring. An American president is considering using public resources to help a foreign autocracy that has funneled hundreds of millions of dollars to his family.
The administration would argue that the UAE is a strategic ally facing economic pressure from the Iran war. That may be true. But critics note that the UAE is a wealthy nation with substantial foreign currency reserves and a sovereign wealth fund valued in the trillions. The question of why American taxpayers should bail out a country that is already extremely wealthy has not been answered.
The Bottom Line
President Trump has indicated that he is open to a financial bailout for the United Arab Emirates, including a possible currency-swap line that would give the wealthy Gulf monarchy inexpensive access to dollars. The UAE has not made a formal request. But the White House is already signaling that it is willing to help.
The UAE is not a major US trading partner. It has refused to allow its territory to be used for hostile actions against Iran. And it has extensive business ties to the Trump family, including a $187 million windfall from a stake in Trump’s crypto firm, millions in annual licensing fees for Trump-branded properties, and investments in Jared Kushner’s private equity fund.
Meanwhile, Americans are paying over $4 a gallon for gas. Food prices remain at historic highs. Millions are living paycheck to paycheck.
The White House has no bailout plan for struggling American families. But for an autocratic monarchy in the Middle East, the administration is already signaling yes. For many Americans, the contrast could not be starker.
