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🇮🇹 Italy /Economy & Trade

Middle East; Trump Reverses Course on 20% Hormuz Toll, Citing Trade Deals

From ANSA · () Italian

Translated from Italian, summarized and contextualized by DistantNews.

At a glance

News Named sources Ongoing story
  • U.S. President Donald Trump reversed his earlier proposal to impose a 20% toll on goods transiting the Strait of Hormuz.
  • Trump cited productive discussions with Middle Eastern leaders who proposed alternative trade and investment agreements.
  • The reversal comes amid continued exchanges of fire with Iran and rising oil prices, with a recent attack on tankers causing casualties.

President Donald Trump has abruptly reversed his proposal to impose a 20% toll on goods passing through the Strait of Hormuz, a move that comes as tensions with Iran continue to escalate. The U.S. president announced on Truth that he would replace the proposed "reimbursement tax" with trade and investment agreements with Gulf states.

Based on extremely productive discussions with Middle Eastern leaders, I have decided to replace the 20% reimbursement tax to the United States with trade and investment agreements that the various Gulf States will enter into with the United States itself.

— Donald TrumpPresident Trump announced his decision to reverse the proposed Hormuz toll on his social media platform, Truth.

Trump stated that "extremely productive discussions" with Middle Eastern leaders led to this decision. He explained that leaders from the region contacted him, urging him to invest in the United States instead of imposing the tax. "They called me asking me to invest in the United States instead of the 20% tax," Trump said, emphasizing that while he doesn't mind protecting Hormuz, it is unfair for the U.S. to bear the cost, especially for countries like China.

They called me asking me to invest in the United States instead of the 20% tax.

— Donald TrumpTrump explained the motivation behind his decision during a meeting with the Iraqi prime minister.

The reversal follows a period of intense exchanges between the U.S. and Iran, and a recent attack on two oil tankers in the strait. The Ministry of Defense of the United Arab Emirates reported that the tankers Mombasa and al-Bahiyah were struck by Iranian cruise missiles in the southern shipping lane of the Strait, within Omani territorial waters. This attack resulted in the death of one Indian crew member and injuries to eight others, four seriously. The tankers sustained damage from fires that subsequently were brought under control.

I don't mind doing it but it's not fair.

— Donald TrumpTrump expressed his view on the fairness of the U.S. bearing the cost of protecting Hormuz.

The UAE condemned the attack as a "flagrant violation of international law" and reserved the right to respond. Meanwhile, oil prices saw a significant increase, with Brent crude surpassing $87 per barrel, reaching a one-month high, driven by the renewed escalation in the region. Trump's administration had previously stated its opposition to any tariffs or tolls in international waters, deeming them illegal.

This flagrant attack, considered a serious and clear violation of international law.

— United Arab Emirates Ministry of DefenseThe UAE Ministry of Defense condemned the missile attack on two oil tankers in the Strait of Hormuz.
DistantNews Editorial

Originally published by ANSA in Italian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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