Trump Scraps Hormuz Toll Plan as U.S.-Iran Conflict Deepens
AI Summary
US President Donald Trump has cancelled the plan to charge a 20% fee on cargo transiting the Strait of Hormuz, opting instead for trade and investment agreements with Gulf states. However, the US maintains a blockade on Iranian shipping amid deepening US-Iran tensions.
US President Donald Trump has walked back his plan to charge a 20 percent fee on cargo shipped through the Strait of Hormuz, replacing it with proposed trade and investment agreements with Persian Gulf states while maintaining a blockade on Iranian shipping. “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 wrote on Truth Social. He provided…