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Trump Reverses Plan for Strait of Hormuz Transit Fees, Announces Trade Deals Instead
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Trump Reverses Plan for Strait of Hormuz Transit Fees, Announces Trade Deals Instead
U.S. President Donald Trump has canceled a proposed 20% fee on ships crossing the Strait of Hormuz and will pursue trade agreements with Gulf states.
- Trump announced the cancellation of the 20% transit fee on Tuesday, replacing it with commercial and investment agreements with Gulf states.
- Trump stated that no country should impose fees on the strait and that the new plan is "much better."
- Secretary of State Marco Rubio had previously said that no country has the right to charge fees on international waterways.
- Shipping traffic through the Strait of Hormuz has fallen to about 10 ships per day, down from 130 before the war.
TopicsUS Foreign PolicyGulf Trade AgreementsTrump Reverses Plan for Strait of Hormuz Transit Fees Announces Trade Deals Instead
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