Trump drops 20% Hormuz transit fee a day after proposing it
What's new: He shifted to possible trade and investment deals with Gulf allies as fighting and shipping disruption persist.
President Donald Trump scrapped his proposal to charge all ships using the Strait of Hormuz a 20% transit fee just one day after floating it as part of a renewed US naval blockade on Iranian shipping. Trump instead pointed to potential trade and investment deals with Gulf allies, suggesting safe passage could be tied to broader economic arrangements. The reversal came as the conflict with Iran stretched into a fifth month, despite a month-old memorandum of understanding meant to support a temporary ceasefire and negotiations. Iran has kept pressure on commercial traffic and US allies in the region, leaving shipping through the strait badly disrupted and underscoring Washington's difficulty in turning military gains into a political settlement.
Sources
Earlier in this story
- 2 hours agoIran keeps Strait of Hormuz closed until U.S. meets terms
- 5 hours agoU.S. strikes Iran missile launchers as Hormuz blockade widens
- 8 hours agoTrump drops 20% Hormuz transit fee a day after proposing itreading now
- 19 hours agoTrump sends letter to Congress as US military ops on Iran continue
- 27 hours agoTrump seeks 20% cargo levy on Strait of Hormuz shipments