Trump administration eases export controls for UAE

The U.S. Commerce Department is moving to relax export controls on the United Arab Emirates, including a plan to favorably review certain semiconductor and server license applications involving MGX, a statebacked investment firm in the UAE. The rule, expected to be published on July 14, would also give the UAE government, Abu Dhabi AI company G42, and its cloud unit Core42 broader access to license exceptions for some advanced computing equipment. The department said the changes reflect the UAE’s role as a U.S. Major Defense Partner and its support for U.S. national security interests. The decision drew criticism from Sen. Elizabeth Warren, who called the move corrupt and raised concerns about possible national security risks. Her comments came after reports that MGX used USD1, a stablecoin linked to President Donald Trump’s family business, World Liberty Financial, in a $2 billion investment in Binance. The Commerce Department said there is no evidence that those financial ties influenced the rule.