dirhams & dollars

Another week, another Trump-driven news cycle

Trade wars loom large this week, as the world awaits Europe and China’s response to the US tariffs

19:56 March 11, 2018
Donald Trump

Dubai: Is a trade war brewing? With China, the EU, and the US all staking out their positions on the international stage, it now appears more likely than ever.

Or, as some believe, is Trump simply ratcheting up the tension to gain leverage over his (perceived) competition?

We try to answer these questions on today’s podcast, whilst diving in to the products that are liable to be hit, including German cars, and American blue jeans.

Closer to home, we look at the Middle East Rail show taking place this week. An annual opportunity for rail ministers to gather together and discuss ambitious plans to connect all the Gulf states by rail. With current estimates of cost pegged at around $250 billion, it appears unlikely that the plan will get back on track any time soon. We discuss the implications of this, and what else is on offer at this week’s event.

Lastly, we take a look at the Spring Statement, a budget announcement by the UK Government outlining new taxes, or spending changes.

Although this year’s is expected to be uneventful, budgetary estimates put the government’s tax revenues in a much healthier position than many expected, increasing the pressure on Theresa May’s government to begin spending on social services again, starved for year’s by a policy of austerity.