Trump drops 20% fee plan for Strait of Hormuz in favour of deals with Gulf states

WASHINGTON – US President Donald Trump on July 14 dropped the idea of charging a 20 per cent fee on all cargo shipped through the Strait of Hormuz, and said he would instead take trade and investment deals with the Gulf states.The change of plan comes a day after Trump proposed charging a 20 per cent fee to guard the waterway.“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,” he said in a post on Truth Social.Trump did not mention any commitments by Gulf states, saying: “Investments will be MASSIVE but, at the same time, extraordinarily good for them, and their future.”Shortly after Trump made the 20 per c