Trump backtracks on Hormuz 20% toll demand
Summary
President Trump retracted his plan to charge a 20% fee on ships passing through the Strait of Hormuz. Instead, he said Gulf states would invest more in the U.S. through new trade and investment deals.Key Facts
- Trump initially demanded a 20% toll on ships using the Strait of Hormuz.
- The United Nations maritime agency called this toll illegal.
- Trump reversed the toll plan after talks with Middle East leaders.
- Gulf states had already planned to invest over $2 trillion in the U.S. before this.
- Trump said these investments would increase with new deals from Gulf countries.
- The announcement surprised Gulf countries, who asked the U.S. for clarifications.
- Trump spoke with the Qatari Emir and discussed the Strait of Hormuz amid ongoing U.S.-Iran tensions.
- The U.S. naval blockade on Iran was set to begin shortly after Trump’s updated statement.
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