U.S. President Donald Trump on Thursday claimed significant progress toward a potential nuclear deal with Iran, which he said could avert military conflict and allow for the return of Iranian oil exports. The announcement sent global oil prices plunging over three percent on expectations of eased tensions and increased supply.
Speaking in Doha, Trump stated, “We’re not going to be making any nuclear dust in Iran,” adding that talks were nearing a resolution that could eliminate the need for military action. He credited Qatar’s Emir, Sheikh Tamim bin Hamad Al Thani, for urging him to pursue diplomacy over conflict.
The comments came as Trump continued a high-profile tour of the Gulf, which he said has brought in record-breaking business deals worth between $3.5 trillion and $4 trillion. In Qatar, he hailed a $200-billion aircraft deal between Boeing and Qatar Airways, while in Saudi Arabia, he touted $600 billion in investment pledges, including major arms sales.
Trump’s next stop was the United Arab Emirates, where he was welcomed in Abu Dhabi with traditional Emirati dances and a visit to the iconic Sheikh Zayed Grand Mosque. He met with UAE President Sheikh Mohamed bin Zayed, and discussions reportedly focused on a new U.S.-UAE partnership in artificial intelligence and technology.
The UAE, aiming to diversify its oil-dependent economy, has sought access to advanced U.S. technologies, including AI chips. Just days before the visit, Trump lifted export restrictions on such chips—a move previously imposed by President Biden to limit China’s tech access.
Trump avoided criticism of Gulf nations’ human rights records during the tour. His warm reception of Saudi Crown Prince Mohammed bin Salman, despite past U.S. intelligence findings on journalist Jamal Khashoggi’s murder, drew criticism from political opponents.
Controversy also swirled around reports that Qatar offered Trump a luxury jet for personal use, fueling accusations of corruption. Nevertheless, Trump praised regional leaders for their economic vision and investments, framing the tour as a transformative moment for U.S. foreign policy and business interests in the Gulf.
