President Donald Trump speaks with Iraqi Prime Minister Ali al-Zaidi during their meeting in the Oval Office on Tuesday. Trump walked back plans to charge tolls in the Strait of Hormuz. Photo by Graeme Sloan/UPI | License Photo
July 14 (UPI) -- President Donald Trump backtracked on his stated plan to charge a 20% toll on cargo ships in the Strait of Hormuz and said he would accept trade and investment deals with Gulf states.
Trump posted on Truth Social Monday that he would charge a 20% toll on ships crossing the strait.
On Tuesday, he said Gulf states will instead invest in the United States.
"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. Those Investments will be MASSIVE but, at the same time, extraordinarily good for them, and their future," he posted on his social media platform.
