{"id":106958,"date":"2025-08-28T00:00:00","date_gmt":"2025-08-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-us-imposes-anti-dumping-duties-on-uae-exports-of-corrosion-resistant-steel-uae-new-zealand-trade-and-economic-partnership-enters-into-force\/"},"modified":"2025-08-28T00:00:00","modified_gmt":"2025-08-28T00:00:00","slug":"this-morning-us-imposes-anti-dumping-duties-on-uae-exports-of-corrosion-resistant-steel-uae-new-zealand-trade-and-economic-partnership-enters-into-force","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/08\/28\/this-morning-us-imposes-anti-dumping-duties-on-uae-exports-of-corrosion-resistant-steel-uae-new-zealand-trade-and-economic-partnership-enters-into-force\/","title":{"rendered":"THIS MORNING: US imposes anti-dumping duties on UAE exports of corrosion-resistant steel + UAE-New Zealand trade and economic partnership enters into force"},"content":{"rendered":"

Good morning, lovely people. <\/strong>The pace of news is still on a steady rise as we inch closer to the end of August and a shorter workweek. <\/p>\n

It\u2019s a mixed bag of news this morning<\/strong>, with an LNG supply agreement<\/strong> for Indian Oil, Global South Utilities signing an agreement for a solar component complex<\/strong> in Egypt<\/strong>; and a new direct listing<\/strong> on the ADX<\/strong>, courtesy of 2PointZero SPV Sagasse Investments. On the macro front<\/strong>, preliminary estimates show that Abu Dhabi's economy grew 3-4% y-o-y in 2Q 2025. <\/p>\n

WEATHER- <\/strong>Temperatures will reach 42\u00b0C in Dubai <\/strong>and 43\u00b0C in Abu Dhabi<\/strong>, feeling hotter in the capital with an expected humidity of around 75%. Lows of 32\u00b0C are expected in both cities, with a chance of rain in eastern and southern areas, according to the National Center of Meteorology (pdf)<\/a>.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- Corrosion-resistant steel exports from the UAE to the US will be hit with an <\/strong>anti-dumping duty <\/strong>of 7.2% to 16.4%<\/strong>, according to a statement<\/a>. The decision \u2014 which comes after a year-long anti-dumping probe<\/a> \u2014 is expected to impact some USD 2.9 bn in imports from the UAE, Turkey, Taiwan, Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, and Vietnam. <\/p>\n

The steel industry is a red line for the US:<\/strong> A 50% tariff on all steel imports into the US entered into effect last<\/a>June<\/a>, after the US administration cited Section 232, allowing it to impose tariffs on a national security basis pending investigations. Despite the signing of several trade agreements lowering tariffs with several trading partners, steel was often singled out<\/a> from these reduced rates. Only the UK secured a lower rate of 25%<\/a> for its steel exports \u2014 still much higher than the 10% granted to other UK products. <\/p>\n

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<\/a> #2- <\/strong>BlueFive Capital\u2019s <\/strong>newly-formed joint private equity (PE) fund<\/a><\/strong> with<\/strong> China-based CICC Capital has a target size of USD 500 mn<\/strong>, BlueFive Capital CEO Hazem Bin Gacem told Asharq Business in an interview (watch, runtime: 11:49<\/a>). The fund will be the first GCC-origined PE platform to be launched in CNY, Bin Qasim said. <\/p>\n

What we know: <\/strong>The 10-year fund will target 10-12 investments, of which two-thirds will be in Chinese firms looking to enter the GCC markets, while the rest will be allocated towards Gulf companies expanding into China and the broader Asia, Bin Gacem said without disclosing the names of the companies. <\/p>\n

Background: <\/strong>The fund, which was formally launched earlier this week, is designed to back China\u2019s \u201cnew economy\u201d sectors from tech and green energy to advanced manufacturing and consumer goods. BlueFive recently closed its USD 2 bn debut fund and aims to grow into a USD 25 bn platform within five years, with the USD 5 bn milestone expected to be reached by November, Bin Gacem said. It was earlier reported to be eyeing some USD 500 mn worth of assets<\/a> in China. <\/p>\n

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<\/a> #3- T<\/strong>he UAE-New Zealand trade and economic partnership agreement has <\/strong>entered into force<\/strong>, with annual bilateral trade projected to reach over USD 5 bn by 2032, according to a press release<\/a>. Signed in January, the trade and economic partnership agreement will eliminate tariffs on UAE imports and minimize tariffs on imports from New Zealand, expedite customs procedures, and strengthen private-sector collaboration between the two. New Zealand will provide 100% dutyfree access to UAE imports, while the UAE will grant 98.5% access<\/a>. <\/p>\n

REMEMBER-<\/strong> The UAE has signed 28 trade and economic partnership agreements since 2021, with partners including India, Turkey, Australia, and South Korea.<\/p>\n

DATA POINT-<\/p>\n

Indian firms accounted for the largest share of new companies joining the Dubai <\/strong>Chamber of Commerce in 1H 2025<\/strong>, with over 9k Indian companies registering, up 14.9% y-o-y, according to the Dubai Media Office<\/a>. Pakistan followed with almost 4.3k new companies (+8.1% y-o-y), while Egypt came third with 2.5k (+8.3% y-o-y). Bangladesh came fourth, recording the fastest growth with 1.5k companies (+37.5% y-o-y), and the UK ranked fifth with nearly 1.4k new companies (+11.1% y-o-y).<\/p>\n

B<\/strong>y the sector: <\/strong>Wholesale and retail trade, and real estate, renting, and business services each made up 35% of new members. Construction accounted for 17.3%, while transport, storage, communication, and social and personal services each represented 7.6%.<\/p>\n

PSA-<\/p>\n

Dubai\u2019s <\/strong>Roads and Transport Authority <\/strong>is rolling out five new public bus routes <\/strong>\u2014 and expanding nine existing ones \u2014 to address rising demand, according to a press release<\/a>. The new routes will operate starting tomorrow. Here\u2019s the rundown:<\/p>\n