Trump reverses 20% fee on ships transiting Hormuz, replaces it with Gulf investments in US; what it means | World
Washington: US President Donald Trump on Tuesday withdrew his proposal to impose a 20% fee on ships passing through the Strait of Hormuz, saying the idea would be replaced with trade and investment agreements involving Gulf nations. In a post on Truth Social, Trump said the decision followed "highly productive conversations" with leaders in the Middle East. "Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States," Trump wrote. The announcement came just…