Trump backs away from Hormuz transit fee plan
Photo: US President Donald Trump (Getty Images)
After talks with Middle Eastern countries, the United States revised its plans for the Strait of Hormuz, abandoning one of its most high-profile initiatives, according to a statement by US President Donald Trump on Truth Social.
According to Trump, following what he described as "highly productive conversations" with Middle Eastern leaders, he decided to abandon plans to impose a 20% fee on vessels transiting the Strait of Hormuz.
Instead, the United States will seek new trade and investment agreements with Gulf states.
"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.
The US president said such agreements would bring a major influx of investment into the American economy, help build new manufacturing facilities, and create millions of high-paying jobs.
Trump also stressed that the Strait of Hormuz remains open to international shipping, except for vessels linked to Iran.
At the same time, he announced plans to impose a full blockade on ships bound for Iranian ports, departing from them, or carrying any Iran-related cargo.
The US leader also reiterated that Iran "will never have a nuclear weapon."
Background
As previously reported, Iran announced the full closure of the Strait of Hormuz on the night of July 12 after several vessels allegedly attempted to use an unauthorized route through the waterway.
During the incident, Iranian forces attacked a container ship and forced it to stop. In response, the United States carried out strikes on Iranian targets.
However, the US Central Command (CENTCOM) later stated that the Strait of Hormuz remained open to international shipping.
Following the incident, Trump said Washington should be compensated for ensuring the security of maritime traffic through the Strait of Hormuz.
