'Will replace 20% Hormuz fee with ... ': Trump says strait open for all but Iran
President Trump announced that the US will replace a proposed 20% toll on the Strait of Hormuz with new trade and investment agreements with Gulf states. Additionally, he declared a full blockade on all ships traveling to or from Iranian ports, citing the country's leadership as a threat.
Why it matters
This policy shift significantly escalates tensions in the Middle East and directly impacts global maritime trade routes and energy security.
US president Donald Trump on Tuesday said the United States would not proceed with its proposed 20 per cent toll on cargo transiting the Strait of Hormuz. He announced that instead that Middle Eastern countries would enter into trade and investment agreements with the United States.“Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States,” Trump said in a post through Truth Social.
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