Donald Trump had proposed a 20 per cent fee on cargo passing through the waterway, but said he would instead seek investment deals with Gulf states.

President Donald Trump said the 20% fee on cargo was necessary to "do the job of providing safety and security" to the region.

US President Donald Trump has said that the United States will reinstate a blockade of Iran's seaports and require a 20% fee on the value of cargo transported through the Strait…