News Source
EXCERPT:
President Donald Trump announced Tuesday that the United States will abandon a proposed 20% fee on cargo moving through the Strait of Hormuz and instead pursue trade and investment agreements with Gulf nations.
Trump had proposed the reimbursement fee one day earlier, arguing that the United States should be compensated for protecting one of the world’s most important shipping routes.
Trump Announces Shift to Gulf Investment Deals
In a Tuesday post on Truth Social, Trump wrote:
“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 did not disclose specific commitments from Gulf governments.