United States President Donald Trump stepped back from a proposal to charge a 20 percent fee to guard the Strait of Hormuz as part of the conflict with Iran, saying he would instead seek investment deals with Gulf states.

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…

Trump says Iranian ships and those trading with Iran will be barred, while other commercial traffic will pay a 20% transit fee.