'We'd Love To Invest...': How Gulf Offer Prompted Trump To Scrap 20% Strait Of Hormuz Toll Fee
'We'd Love To Invest...': How Gulf Offer Prompted Trump To Scrap 20% Strait Of Hormuz Toll Fee Published By, Last Updated: July 14, 2026, 22:08
'We'd Love To Invest...': How Gulf Offer Prompted Trump To Scrap 20% Strait Of Hormuz Toll Fee Published By, Last Updated: July 14, 2026, 22:08 IST Trump also said no country should be charged for transiting through the Strait of Hormuz. File image of US President Donald Trump. (Source: Reuters) US President Donald Trump on Tuesday withdrew his proposed 20 per cent “reimbursement fee" on cargo passing through the Strait of Hormuz, saying the plan would instead be replaced by trade and investment agreements with Gulf countries. The announcement came a day after Trump proposed imposing the fee on ships transiting through the strategic waterway. Speaking at the White House alongside Iraq’s Prime Minister, Trump said Gulf nations had approached him with an alternative proposal centred on investment rather than transit charges. What Trump said? Explaining the change in position, Trump said Gulf countries preferred to invest billions of dollars in the United States instead of paying a toll for using the Strait of Hormuz. “They said, we’d love to do it a different way. We’d love to invest in the US with billions and billions of dollars," Trump said. “I don’t like the concept of a fee." Trump also said no country should be charged for transiting through the Strait of Hormuz.
“We welcome investments in the US in exchange for providing protection for the Strait of Hormuz," he said during the White House press conference. According to Trump, the decision followed what he described as “highly productive conversations" with leaders from West Asia. Instead of collecting a 20 per cent reimbursement fee from commercial shipping, the United States will pursue trade and investment partnerships with Gulf states. The proposal marks a significant shift from the plan Trump announced on Monday. Earlier, a Semafor report had said Trump was “very serious" about introducing the reimbursement fee, despite opposition from some people within his own circle. Iran remains excluded While dropping the proposed toll, Trump announced a tougher stance towards Iran. In a post on Truth Social, he said the Strait of Hormuz would remain open to all international shipping except vessels linked to Iran. “The Strait of Hormuz is open to ALL Ship traffic except for Iran — and that is because of their lying, violent, malicious leadership, which is taking them down the path of TOTAL DESTRUCTION," Trump wrote. He also announced a full blockade on ships travelling to and from Iranian ports or carrying Iranian cargo. Trump on Iraq During the White House meeting, Trump also spoke about Iraq and the changing relationship between Washington and Baghdad.
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