Trump Announces that 20% Strait of Hormuz Fee to be Replaced by Investment Deal
I didn’t think this 20% fee idea was going to last very long and sure enough 24 hours later it is gone:
U.S. President Donald Trump on Tuesday dropped his proposal to impose a 20 percent “reimbursement” fee on cargo shipped through the crucial Strait of Hormuz, saying that he will replace it with trade and investment deals with Middle Eastern countries.
Trump made the remarks in a social media post, just a day after he announced that the United States will serve as the “guardian” of the strait and be “reimbursed” at a 20 percent rate on all cargo shipped through the waterway that Iran had all but closed amid the Middle East conflict.
“Based on highly productive conversations with Middle East leadership, I have decided to replace the 20 percent United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States,” Trump wrote on Truth Social. (……)
During a press availability, Trump said that he scrapped the proposed fee as Gulf state officials told him over the phone that they would like to “do it a different way” and invest in the U.S. “with billions and billions of dollars.”
You can read more at the link.
