Donald Trump has announced a U-turn on his threat to slap a 20 percent toll on cargo passing through the Strait of Hormuz.
The President said on Tuesday that the US will instead agree to ‘massive’ investment deals with the Gulf states.
Trump wrote on Truth Social: ‘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.’
It is unclear whether these would be new commitments, or would relate to what the President announced after a visit
To provide well-rounded coverage and a breadth of insight across various events, we rely on contributions from several staff writers, each bringing their own area of expertise to our publication.
