Deals
Trump Aluminum Tariffs Said to Prompt U.A.E.'s EGA to Delay IPO
- Mubadala CEO had said EGA could be listed as early as 2018
- U.S. is key market for EGA which exports 90% of its output
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A planned share sale in the United Arab Emirates may be the latest casualty of President Donald Trump’s trade policies.
U.S. tariffs on aluminum imports have prompted Emirates Global Aluminium, which produces about 4 percent of the metal globally, to delay an initial public offering, according to people with knowledge of the matter who spoke on condition of anonymity. The company confirmed the decision but attributed it to unfavorable market conditions.