Middle East: Trump reverses course on 20% Hormuz toll

Donald Trump has retracted his proposal to impose a 20% toll on goods passing through the Strait of Hormuz, following intense regional pressure and internal contradictions within his administration. The reversal came after Trump had threatened to impose the tax on all goods transiting the vital waterway.

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The attacks against Iran will continue until I say stop.

Trump announced on Truth that "extremely productive conversations with Middle Eastern leaders" led him to replace the toll with trade and investment agreements with Gulf states. He stated these investments would be substantial and mutually beneficial. He also mentioned receiving calls from regional emirs alarmed by the tax proposal, who instead urged him to invest in the U.S.

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Based on extremely productive conversations 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.

This decision contrasts with previous public statements by Vice President Jd Vance and Secretary of State Marco Rubio, who had declared the U.S. administration's opposition to any tariffs or tolls in international waters, deeming them illegal. Trump, however, reiterated his view that it is unfair for Washington to protect Hormuz for countries like China.

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

Meanwhile, the conflict between the U.S. and Iran escalates, with both nations vying for control of the Strait, a crucial chokepoint for oil and gas shipments. Recent attacks on oil tankers, including the Mombasa and al-Bahiyah, have resulted in casualties and driven oil prices to a monthly high. The U.S. and Iran continue their exchange of strikes, leaving the path to de-escalation uncertain.

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