• DP World: Trump rhetoric ‘just a phase’

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    The president of Dubai-based port operator DP World said that US President Donald Trump’s anti-globalization rhetoric is “just a phase” that will have no significant impact on global trade or shipping.

    DP World Group Chairman and CEO Sultan Ahmed bin Sulayem

    In a statement, Sultan Ahmed bin Sulayem said, “What Donald Trump wants is fair trade, fair trade versus free trade now.

    “They want fair trade and nobody can object to that. I think there are legitimate reasons behind what you hear, but nonetheless all these anti-globalization sentiments are going to pass away, it’s a phase.

    “It’s a phase where everyone is excited, that’s what actually got Donald Trump elected. But I think everyone is going to abide by the general agreement on trade and tariffs.”

    DP World is the majority stakeholder of Asian Terminals Inc., the operator of Manila South Harbor and Batangas Port.

    Since his inauguration in January, President Trump’s proposed protectionist measures have led some to raise concerns about the possibility of a trade war between the US and China. In addition, Trump has rejected US participation in the Trans-Pacific Partnership trade pact, and is also reportedly planning to renegotiate the terms of the NAFTA (North America Free Trade Area) deal between the US, Mexico and Canada.

    DP World was earlier rebuffed by the US government in overtures to invest in several US ports last year, but in spite of that rejection, Sulayem said that he believes any future investment in the country may still be “viable.”

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