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Strait of Hormuz developments

Trump drops plan for 20% fee for transit through Hormuz Strait

The US president has 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

WASHINGTON, July 14. /TASS/. US President Donald Trump said he had abandoned plans to charge a 20% fee for ships transiting the Strait of Hormuz in favor of trade and investment agreements.

"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," the US president wrote on Truth Social.

On July 13, Trump said the United States wanted to control the Strait of Hormuz and receive compensation equal to 20% of the value of cargo transported through the waterway in return for ensuring safe navigation.

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United States Donald Trump

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