He said that after "highly productive conversations with Middle East leadership", he decided to replace the fee with trade and investment deals that Gulf states will make in the United States.
US President Donald Trump has decided to replace his proposed 20% fee on ships using the Strait of Hormuz with trade and investment deals involving Gulf countries. Trump announced the decision in a Truth Social post on Tuesday, saying the move followed talks with Middle East leaders.
Trump had earlier proposed a 20% United States Reimbursement Fee for cargo ships passing through the Strait of Hormuz. However, he said that after "highly productive conversations with Middle East leadership", he decided to replace the fee with trade and investment deals that Gulf states will make in the United States.
Trump's Truth Social Post |
"Those investments will be MASSIVE but, at the same time, extraordinarily good for them, and their future," Trump wrote in his Truth Social post.
The US President also said oil was "flowing like never before" and credited the US military with keeping the Strait of Hormuz open. According to Trump, the waterway is open to all ship traffic except vessels linked to Iran. He added that a full blockade remains in place on ships travelling to and from Iranian ports or carrying Iranian cargo.
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