US carries out further Iran strikes as Trump proposes 20% fee to guard Strait of Hormuz
US President Donald Trump has replaced a proposed 20% fee on shipping through the Strait of Hormuz with a plan for trade and investment deals with Gulf states. This follows a series of US-led strikes against Iran amid ongoing regional tensions that have disrupted global energy markets.
Why it matters
The shift in policy reflects the complex balance between military posturing and economic diplomacy in the volatile Middle East energy corridor.
US president Donald Trump stepped back from a proposal to charge a 20 per cent fee to guard the Strait of Hormuz as part of the conflict with Iran , saying on Tuesday he would instead seek investment deals with Gulf states.
US forces had carried out waves of attacks for the third night in a row after Tehran said it had closed the strait, prompting Trump on Monday to reinstate a blockade of Iranian shipping and propose the fee.
But just a little under five hours before the fee had been due to come into effect at 8pm Irish time, Trump said the strait was open to all shipping traffic except that of Iran.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in