The Palm Jumeirah in Dubai, Dubai, United Arab Emirates
Nikada | E+ | Getty Images
The global trade war triggered by U.S. President Donald Trump shows no sign of abating, with tit-for-tat tariffs hammering major economies, tanking stock markets and dimming growth prospects.
The economies concerned – North America, the European Union, and China – face highly uncertain futures. But for the Middle East, which has so far been spared of additional levies, there are still reasons to worry – as well as opportunities to take advantage of.
Direct impact from tariffs, like the U.S. levies on steel and aluminum imports, have just a minimal impact on the Middle East, economists say. The Gulf region, for instance, accounted for roughly 16% of U.S. aluminum imports in 2024, led by the United Arab Emirates and Bahrain, Standard Chartered MENA Economist Carla Slim told CNBC. While those sectors may be affected, analysts say, the hit will be minor.
But the blow to growth from a trade war is likely to hurt the price of oil, the mainstay of the region’s economy. There are also immediate costs to countries whose currencies are pegged to the dollar, such as Saudi Arabia, the UAE, Qatar, Oman, and Bahrain.
Oil, dollars and debt
The U.S. dollar has been selling off since the start of the year, making imports for countries with dollar pegs more expensive – a challenge for a region highly dependent on goods from abroad.
Trade tariffs implemented by the U.S. typically make the greenback stronger over time, however – if that happens, oil becomes more expensive, as the commodity is traded in dollars. This would give an initial boost to oil-exporting Middle East countries.
But bad news may lie ahead as oil demand slows due to weakened global trade and shipping.
An oil drilling rig stands on one of the Causeway islands in the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia, on Wednesday, Oct. 3, 2018.
Simon Dawson | Bloomberg | Getty Images
“The macro outlook for MENA (Middle East and North Africa) is set to be weighed down by global tariff uncertainty indirectly through oil prices, to the extent that tariff and macro uncertainties continue to be a drag to Brent oil prices,” Slim told CNBC.
Since the oil price shock of 2014, however, many of those economies have implemented structural reforms and diversification programs in a bid to lessen their dependence on oil revenue.
“Strengthening domestic demand resilience continues to be the best lever to immunize local economies from global external shocks, in our view,” Slim said.
Despite diversification efforts, however, oil “still accounts for the largest single share of income,” said Edward Bell, acting chief economist at Dubai-based bank Emirates NBD.
“For an economy like the UAE that is highly open to trade and acts as a global trade facilitator through extensive infrastructure and logistics links, a drop in global trade will also be an externally imposed headwind to growth,” Bell noted.
Most vulnerable
A stronger greenback also means that dollar-denominated debt is more expensive to service. For Lebanon, Jordan, and Egypt, which have particularly high levels of external debt, this is a major concern and could cause acute economic pain.
Jordan is the most vulnerable country in the region to the tariff wars due to its high export dependency on the U.S., according to James Swanston, senior emerging markets economist at London-based Capital Economics. Nearly 25% of Jordan’s exports — mainly textiles and jewelry — go to American markets.
“Jordan’s economy is the most exposed to potential tariffs,” Swanston told CNBC.
U.S. President Donald Trump speaks during a meeting with Jordan’s King Abdullah II bin Al-Hussein (L) in the Oval Office of the White House on February 11, 2025 in Washington, DC.
Andrew Harnik | Getty Images
But the country may find some reprieve in its diplomatic ties to Washington – “a carve-out was secured with regard to U.S. foreign assistance following the suspension of USAID” because of Jordan’s strategic importance in U.S. foreign policy, Swanston noted. “This might suggest that Jordan could negotiate fairly easily out of tariff impacts.”
New trade corridors?
One significant and positive change for the MENA region brought about by the tariffs is the push for more geographically streamlined trade corridors.
“For MENA, we think this will add impetus to fast-growth trade corridors, such as the GCC-Asia trade corridor which has experienced long-term growth of 15% and stands to benefit most,” said Standard Chartered’s Slim.
She sees rising trade volumes ushering in a parallel increase in financial and investment flows between the Gulf states and Asia in particular, “as Asian businesses set up presence in the Middle East or expand existing businesses, adding impetus to the organic growth we’ve observed since [China’s] Belt and Road Initiative.”
It’s Labor Day weekend, which means big deals on car lots across America – especially if you’re shopping for a new electric vehicle to help with your labor. We’ve rounded up the best offers on electric pickups, vans, and even a great option for ride share drivers!
Sure, there’s a bit of irony in pitching “work vehicles” on a holiday meant for not working – but for many small business owners, work is part of who they are. And with the $7,500 federal EV tax credit set to expire, plus a wave of great Labor Day deals on work-ready EVs, now might be the best time yet to plug into a new electric ride.
Here are some of the standout electric vehicles offers we found this Labor Day weekend (2025), organized by vehicle type.
Electric pickup | F-150 Lightning
F-150 Lightning; via Ford.
The “Ford for America,” summer sales event continues through Labor Day with interest-free 0% financing, $0 down payment, and zero payments for up to 90 days for retail customers. Ford is also throwing in $0 maintenance for 24 months.
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But wait, there’s more! Ford Authority is reporting that a complimentary home charger and standard installation might also be included as part of the Ford Power Promise promotion happening at participating dealers in select markets with the purchase of a new F-150 Lightning pickup through the end of September.
Lease customers aren’t being left out, either. You can lease a 2025 Ford F-150 Lightning XLT 4P 311A pickup at $399 per month for 36 months, with “just” $399 due at signing (basically your first month’s payment).
For your money, you get a capable, Ultium-based electric cargo van with more room than your college dorm and a nationwide dealer network to keep it up and running when you need it most.
Electric van (hon. mention) | Mercedes eSprinter
2024 eSprinter; via Mercedes-Benz.
Despite being based on the company’s existing diesel platform, Mercedes’ eSprinter has proven itself a capable urban hauler in the hands of Amazon, DHL, and countless European tradespeople. Despite that, there are still a handful of leftover 2024 models hanging around dealer lots – enough that Mercedes is offering up to $30,000 (!) Customer Cash on any new ’24MY eSprinter purchased from dealer stock.
As you can imagine, there’s some fine print on that Customer Cash deal. It can’t be combined with Special APR programs through Mercedes-Benz Financial Services (MBFS), but it can be combined with the Mercedes-Benz Commercial Vehicles Medium Fleet Program.
And, while we’re at it, it’s probably worth noting that serious road warriors will probably save more than $129/mo. in fuel alone.
If you prefer to own your vehicles after making payments on them for a few years, you can also get 0% interest financing on select ID.4s for up to 72 months. It’s important to note here that Volkswagen’s deals can vary wildly by region. That $129/mo. offer is available in California and a few other West Coast states, for example, but the electric crossover’s listed at $329 for 24 months with $4,499 due at signing in others.
Disclaimer: the vehicle models and financing deals above were sourced from CarsDirect, CarEdge, and (where mentioned) the OEM websites – and were current as of 29AUG2025. These deals may not be available in every market, with every discount, or for every buyer (the standard “with approved credit” fine print should be considered implied). Check with your local dealer(s) for more information.
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Sustainable construction experts McKinstry have teamed up with leading BESS developers Viridi and the Denver Public Library to deploy a first-of-its-kind solar and battery storage system that sets a new standard for fire safety.
The Denver Public Library sought a battery energy storage system (BESS) that could deliver cost savings without compromising safety for staff, visitors, or the architecturally significant, Michael Graves–designed structure itself. That required a battery backup solution that not only met the city’s fire safety standards, but also addressed public fears about the risk of lithium-ion battery fires.
That unique set of project priorities led the library to Viridi, makers of the RPSLinkEX battery solution that’s equipped with a unique, “passive Fail-Safe thermal management and anti-propagation technology” designed to prevent the sort of thermal runaway that leads to li-ion battery fires.
“Public facilities like the Denver Public Library are at the forefront of demonstrating that energy resilience and safety can go hand in hand,” said Jon M. Williams, CEO at Viridi. “This installation highlights how fail-safe battery storage can empower communities to maximize renewable energy, reduce costs, and maintain reliability – all without compromise.”
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Keeping it safe
Denver Public Library; by Michael Graves.
Viridi doesn’t talk too much about how its passive Fail-Safe thermal management system works, but if you’re picturing heat-dissipating layers, fire-resistant insulation, and strategically-placed phase change materials (or PCMs) limiting the transfer of heat from one cell to another if it begins to overheat, you’ve probably cracked it.
These passive safety features enable safer deployment scenarios in occupied buildings or near critical infrastructure by reducing dependence on active fire suppression systems like sprinklers or fire extinguishers, and convinced the City of Denver to move forward with the project, which is the city’s first-ever solar + battery storage system.
“The entire McKinstry team is very excited about developing and constructing the first Solar + BESS project for the City and County of Denver,” said Jon Ensley, Sr. Construction Project Engineer at McKinstry. “We are appreciative of all our partners and stakeholders who helped to achieve this goal. We value Viridi’s expertise in deploying this technology and the whole team has been great to work with.”
McKinstry says this latest solar project sets, “a new benchmark for how cities can combine renewable energy and battery storage without compromising safety.” And, with solutions like the RPSLinkEX building systems that meet city planners and politicians where they are, instead of trying to educated them about the objective, proven safety of li-ion batteries, Viridi is helping communities adopt cleaner, more resilient clean energy solutions sooner rather than later.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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China’s Dongfang Electric has installed a 26-megawatt offshore wind turbine, snatching the title of world’s most powerful from Siemens Gamesa’s 21.5 turbine in Denmark.
Photo: Dongfang Electric Corporation
The Chinese state-owned manufacturer announced today that it has installed the world’s most powerful wind turbine prototype at a testing and certification base. This turbine, the world’s largest for capacity and size, boasts a blade wheel diameter of more than 310 meters (1,107 feet) and a hub height of 185 meters (607 feet). Dongfang shipped the turbine’s nacelle earlier this month – the world’s heaviest – along with three blades.
This offshore wind turbine is designed for areas with wind speeds of 8 meters per second and above. With average winds of 10 meters per second, just one of these giants can generate 100 GWh of power annually, which is enough to power 55,000 homes. That’s enough to cut standard coal consumption by 30,000 tons and reduce CO2 emissions by 80,000 tons. Dongfang says it’s wind resistant up to 17 (200 km/h) on the extended Beaufort scale.
In May, Dongfang said it had completed static load testing on the turbine’s blades, and the turbine is now undergoing fatigue testing, which could take up to a year before the turbine is fully certified.
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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