Trump drops plan to toll ships passing through Strait of Hormuz

U.S. President Donald Trump announced Tuesday that he has decided against implementing a plan to charge tolls for maritime traffic passing through the Strait of Hormuz. Trump indicated that the shift in strategy came after consultations with several Gulf nations who advised against the toll proposal and instead offered to make investments in the United States.

Speaking from the Oval Office, Trump stated that various leaders from the region, whom he described as "people we know and love," suggested pursuing a different approach. "They called me, different people, different countries, kings and emirs and all of the people that we know and love and they said they would like us to do it a different way," Trump told reporters, as reported by CNN.

Despite abandoning the toll plan, Trump defended the underlying concept, framing it as a form of reimbursement for the security services the U.S. provides to vessels navigating the crucial Strait of Hormuz. He reiterated his long-held view that the U.S. should not bear the cost of securing the waterway if it does not directly benefit from it, especially given the global impact of any disruption on oil prices.

Trump expressed his belief that the Gulf countries' offer to invest in the U.S. is a superior alternative to imposing tolls. "I think it's much better than putting a tax on," he said, suggesting that such investments would be more beneficial than the revenue generated from transit fees. The president concluded that he was ultimately convinced that the Gulf states' proposal represented a more advantageous path forward.