May 1, 2025
As part of FMI’s UAE Financial Marketing Leaders’ Summit, World Media Group CEO Jamie Credland chaired a panel with Gregg Carlstrom, Middle East Correspondent at The Economist and Maha El Dahan, Gulf Bureau Chief at Reuters. The panellists explored the economic and geopolitical trends reshaping business strategies in the UAE. One hundred days into President Trump’s second term, the conversation unpacked the ripple effects of tariff policies, oil price volatility and shifting alliances – and how media and marketing is adapting to a rapidly changing information environment.
Uncertainty around tariffs and trade policy
The Trump administration’s tariff policy remains a top concern for businesses, with panellists highlighting the lack of clarity around trade deals. Maha El Dahan noted that there’s confusion about who the U.S. is negotiating with and what the tangible outcomes are. “With the U.S., the result is no clarity. No-one knows what’s going on,” she said. “One day, President Trump says he is negotiating with the Chinese, but [China] say they’re not. What exactly is happening? No-one knows.” Despite assurances from Trump’s son Eric, who is currently visiting the region, that the Gulf states would be “just fine,” uncertainty prevails.
So far, the biggest direct impact of the tariffs for the Middle East has been the oil prices. The tariffs coincided with OPEC+ increasing supply unexpectedly, driving prices down to around $60. While the UAE can weather this lower price point for a time, Saudi Arabia faces pressure, especially with its high-budget Vision 2030 initiatives, including massive infrastructure, sports and entertainment projects like the World Cup.
Shifting alliances between the U.S. and China
Gregg Carlstrom addressed the geopolitical consequences of U.S. tariffs, suggesting they could nudge some countries toward deeper ties with China. Gulf states have historically preferred to hedge between major powers rather than take sides. “There are some people who are very optimistic that they will continue to be able to hedge between the US and China and not have to choose sides… but I think some of that optimism is probably misplaced,” Carlstrom said.
While some regional players hope to benefit by positioning themselves as re-export hubs to bypass or alternative manufacturing centres, Carlstrom pointed out that there’s still no guarantee that they would avoid tariffs. There are also those who think that manufacturing may move to the Gulf, but the timelines and capital needed for such shifts are significant.
Carlstrom also highlighted the risk of cheap Chinese imports flooding the Gulf, undermining efforts to build local industries. Conversely, mounting pressure from both the U.S. and domestic competition could force Gulf economies to pick a clearer side.
Trump’s Visit – Optics vs. Outcomes
Trump’s upcoming visit to the Gulf – his first international trip this term – underscores the region’s strategic importance. Both El Dahan and Carlstrom agreed that while the public focus will be economic deals, the visit also carries critical geopolitical undertones.
“Trump will want some tangible things, some tangible deals,” said Carlstrom. “He thinks this region is an ATM, and you push a button and out come the dollars.” But while Trump‘s goal may be to establish tangible trade and investment announcements, especially following recent weak economic headlines, El Dahan said that many of the deals are likely to be re-branded existing commitments.
The Gulf leaders’ goals are focussed around clarity on tariffs; arms deals and nuclear cooperation; progress on a new Iran nuclear deal; and economic incentives to stabilise Syria and contain regional tensions.
El Dahan pointed out that both sides are pursuing distinct but overlapping agendas, which may cause tension: Trump sees the Gulf as a source of financial wins; Gulf leaders want reciprocal investments to fuel domestic development.
Journalism and storytelling
With the rise of flood-the-zone press releases, real-time reactions and shifting political narratives, the panellists explained how trusted journalism helps to build a narrative that simplifies complexity, earns attention and builds trust. El Dahan offered a powerful reminder of how journalists cut through noise by focusing on impact. “The stories that matter are the ones that touch our lives, touch our money,” she explained. Drawing on her experience reporting for Reuters, she shared how a seemingly obscure story about a wheat fungus in Egypt – ergot – morphed from a commodities piece into a geopolitical controversy. She emphasised that even dry or niche topics can become powerful narratives when told through the right lens.
Carlstrom built on this, sharing techniques journalists use that marketers can learn from: structure, signposting and strong visuals. “Start with a human anecdote, frame the big picture, then break it down into three or four key points – it helps both the reader and the writer stay focused.” He also emphasised the power of charts to replace entire paragraphs of dry explanation, and having the editorial courage to clearly state what’s true, even when it means challenging official lines. In a world increasingly defined by blurred facts and “post-truth” politics, this kind of clarity and integrity matters — not just in newsrooms, but in brand storytelling too.
Embracing AI and new formats
While the media landscape is shifting, the core mission – impactful storytelling – remains the same. El Dahan shared how AI tools are streamlining the mundane, time-consuming aspects of journalism, freeing up time for more investigative work. “The way we do our work is changing, but a lot of it is changing in a way that makes it easier for us to do our job,” she said, but “it can never replace the reporting element.” El Dahan also noted that the digitally connected generation is more accessible than ever, making it easier to source and verify stories, often from public social media activity.
Technology is helping journalists to free up time to work on the stories that matter, and, in the current landscape of noise and volatility, trusted storytelling is a necessity. Whether you’re a journalist, policymaker or marketer, the goal is the same: to make the complex understandable, the obscure engaging and the message impossible to ignore. As El Dahan and Carlstrom demonstrated, the ability to cut through the chaos with clarity, credibility and purpose is what turns information into influence.