Trump reverses decision to impose 20% Hormuz fees in favour of Gulf investment deals | World News
2 min readNew DelhiUpdated: Jul 14, 2026 09:52 PM US President Donald Trump on Tuesday stepped back from his decision to impose a 20 per cent fee on all the cargo being shipped through the Strait of Hormuz as part of the conflict with Iran, saying the Gulf countries would instead make investments and trade deals with America.
After Tehran said it had closed the strategic waterway, the US military continued its wave of attacks for the third night in a row. Iran is also retaliating with strikes at US bases in the Gulf countries, including Bahrain, Kuwait, and Oman, among others.
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Just five hours before the toll in Hormuz was set to take effect at 8 pm (GMT), Trump said the strait was open to all for ship transit except that of Iran, adding that the US military’s naval blockade of the Islamic Republic would continue.
“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 wrote in a post on Truth Social.
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