Current sectionMiddle East NewsIran NewsThe U.S. President said Gulf states offered 'billions and billions' in U.S. investments as an alternative, while fighting with Iran continued across the regionShare to FacebookShare to XArticle printing is available to subscribers onlyPrint in a simple, ad-free formatSubscribeComments: Zen reading is available to subscribers onlyAd-free and in a comfortable reading formatSubscribeBen Samuelsand Reuters09:39 PM • July 14 2026 IDTU.S. President Donald Trump said Tuesday he had abandoned plans to impose a 20 percent fee on cargo transiting the Strait of Hormuz after Gulf leaders proposed expanding trade and investment ties with the United States instead.Loading...Click the alert icon to follow topics:Iran - U.S.Iran sanctionsDonald TrumpStrait of HormuzCommentsLoading...In the NewsIn the News: Israel NewsIranMahmoud AhmadinejadLindsey GrahamHamasDavid ZiniRo KhannaIsrael ElectionsHaQuizHaaretz PodcastDid Breakoff Ancient Jews Really Use a 'Divine' 364-day Calendar?Trump Walks Back Hormuz Transit Fee, Gulf Countries Come Under AttackIDF Soldiers in Lebanon Say They Were Denied Leave After a Month of CombatIsrael's Response to Settlers Detaining Ro Khanna? Question J Street's JudaismIsrael Signals Readiness to Withdraw From Lebanon Pilot Zone After Day of TalksRemembering and rebuilding two years laterICYMIInside the Mossad Plot to Install Ahmadinejad as Iran's LeaderThe Original Tradwives of Ancient RomeEgypt Lost the World Cup. But Was the Referee Really Jewish?Made in Kurdistan, Smuggled via Jordan: The Mysterious Firearms Flooding IsraelRo Khanna, U.S. Lawmaker & Israel Critic, Says West Bank Settlers 'Detained' HimRahm Emanuel Wants to Save Israel. But Are Israelis Listening?