Trump scrapped plans for a 20% Strait of Hormuz transit fee, opting instead to pursue trade and investment deals with Gulf states while maintaining the U.S. blockade on Iranian shipping.

Trump announces toll for Hormuz: US President Donald Trump said on Monday that the US is “reinstating” a blockade on Iran in the Strait of Hormuz. Not only that, Trump also…

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

President Donald Trump on Tuesday reversed course on his earlier proposal for the US to levy a 20% fee on all cargo flowing through the Strait of Hormuz

The president abandoned plans to charge fees for policing the Strait of Hormuz in lieu of inking new trade deals with Gulf states.