Trump drops Hormuz cargo fee in favor of Gulf investment deals
U.S. President Donald Trump said his administration will replace the newly introduced 20% reimbursement fee on commercial cargo passing through the Strait of Hormuz with trade and investment agreements involving Gulf states, while maintaining restrictions on Iranian shipping, reports a Qazinform News Agency correspondent.
In a post on Truth Social on Tuesday, Trump said the decision followed what he described as "highly productive conversations with Middle East leadership."
"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," Trump wrote.
He added that the Strait of Hormuz remains open to international shipping, except for vessels linked to Iran.
"We will therefore have a FULL Blockade, but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo," Trump said.
The U.S. president argued that the planned investments from Gulf countries would benefit both sides and boost American manufacturing.
"Those Investments will be MASSIVE but, at the same time, extraordinarily good for them, and their future," he said, adding that the deals would bring "Factories, Plants, and Equipment" to the United States and create "millions of High Paying AMERICAN Jobs!"
Trump also praised the U.S. military, saying it had ensured the security of the strategic waterway.
"Oil is flowing like never before, thanks to the awesome Power of the United States Military," he wrote, while reiterating that "IRAN WILL NEVER HAVE A NUCLEAR WEAPON!"
Earlier, Qazinform News Agency reported that Trump had announced a 20% reimbursement fee for ships transiting the Strait of Hormuz while reinstating a blockade on vessels connected to Iranian ports or cargo.
