On the CNBC show Squawk Box today, President Trump, who said U.S. allies in the Middle East are “much better allies than NATO,” was asked if he’s willing to provide a financial bailout (or a “currency swap line”) for the oil-rich United Arab Emirates (UAE) “if they need it.”
Trump said it is under consideration, “and it was shocking because we thought that they [Iran] would shoot missiles at Israel but not every other country in the area.”
[NOTE: The Wall Street Journal reported that the UAE has talked with the U.S. “about obtaining a financial backstop in case the Iran war plunges the oil-rich Persian Gulf state into a deeper crisis.”]
Trump says he’ll give some kind of financial bailout to the UAE, because he found it “shocking” they were hit so hard; he thought Iran would only try to strike Israel. (So in other words, there was instant escalation beyond what he anticipated, and now the US will foot the bill) pic.twitter.com/7DuD7WeW8R
— Michael Tracey (@mtracey) April 21, 2026
Trump added that “UAE got hit with 1,400 missiles,” but said “fortunately they had great defense, and were able to shoot down most of them, but they did get hit hard. They were hit the hardest of the group, actually. And really led by incredible people.”
Trump added of the UAE financial request, “Yeah, I mean, I am surprised because they are really rich.”
Trump also mentioned that last year he “got the UAE to invest $1 trillion in the United States,” including a “beautiful” aluminum plant in Oklahoma. “They’re very good to this country, so yeah, if I can help them I will,” Trump said.
Details about the status of the UAE’s purported $1 trillion investment in the U.S., considering the country’s nascent need for U.S. financial support, were not examined. The IMF estimates the UAE’s GDP at just over $600 billion, roughly 60 percent of the total trillion dollar U.S. investment Trump describes.
Trump critics are slamming the President for claiming the U.S. didn’t know Iran would bomb U.S. allies in the Middle East, and for the idea of giving the UAE money. As one replied: “My guess is he didn’t listen to advisors and he clearly underestimated Iran….now he’s asking the U.S. taxpayers to not only fund the war, but to provide financial funding to other countries. We’ll bail out the entire Middle East, Argentina. Anyone else?”
[Note: Argentina was also the beneficiary of a U.S. currency swap during Trump’s second term.]
Another commenter replied: “We are $39 trillion in debt. The UAE is rich and has surpluses in the trillions. Why do they need a bailout if they have a surplus?” Another suggested that Trump “return that Qatari 747 and call it even.” Qatar was also attacked by Iran in response to the U.S. strikes.