Sultan Ahmed bin Sulayem, chairman and CEO of DP World, said on Tuesday that US President Donald Trump’s recent 25% tariffs on steel and aluminium imports are intended to secure trade negotiations, not halt global trade, Zawya reported. Speaking at the World Government Summit in Dubai, bin Sulayem said Trump’s strategy centres on achieving “fair trade” deals that the president can present as victories.
“He won’t stop trade. He wants fair treatment of [US] products. He wants to come with a deal that gives him something to say, ‘I won there,’” bin Sulayem said.
Trump’s initial tariff targets include Canada and Mexico, though implementation has been delayed pending negotiations. Bin Sulayem added that while threats of retaliatory tariffs exist, particularly between China and the US, the underlying goal is to bring key players to the negotiating table.
The UAE ranks among the world’s top five aluminium exporters and was the second-largest exporter of the metal to the US last year after Canada. The GCC produces 10% of the world’s aluminium, with a third of its output destined for the US and EU markets. Aluminium’s rising demand is linked to its applications in electric vehicles and battery casings.
China remains the dominant steel producer globally, housing eight of the world’s top 10 producers. Japan’s Nippon Steel and India’s Tata Steel rank as the fourth and 10th largest producers, respectively.
