Trump backs away from plans to charge fees in the Strait of Hormuz as attacks intensify
Trump said Gulf states will invest billions in the United States after he withdrew the proposed cargo fee on ships using the strait.
- On Tuesday, July 14, 2026, President Donald Trump withdrew his proposal to charge a 20% toll on cargo transiting the Strait of Hormuz, announcing instead that Gulf states would make trade and investment deals with the United States.
- Following 'highly productive conversations with Middle East leadership,' Gulf states urged Trump to 'do it a different way' with financial commitments rather than a fee, prompting the administration to abandon the toll proposal.
- The United Kingdom and International Maritime Organization had opposed the toll, stating there is 'no legal basis' under international law for mandatory fees on ships transiting straits used for international navigation.
- Iranian Foreign Minister Seyed Abbas Araghchi mocked the proposal as '20% is of course too much,' while reasserting Tehran's claim as the sole 'guardian' of the Strait of Hormuz.
- Nearly 20% of global energy supplies transit the Strait of Hormuz, and ongoing regional volatility threatens to raise freight rates, insurance premiums, and international trade costs for energy-importing economies.
355 Articles
355 Articles
The United States and Iran fuel the battle for a narrow key to the world economy and the shipping companies fear a great cost in transport.The Republican idea gives letter of nature to the billing in the sea pass
Oil eases off day's highs after Trump nixes proposed 20% Strait of Hormuz transit fee (USO:NYSEARCA)
Crude oil futures extended gains but pulled back from day's highs after President Trump scrapped a plan to charge a 20% fee to cover the cost of protecting ships through the Strait of Hormuz
After just 24 hours, the president goes back: "We will have investments from the Gulf States." Three more oil tankers hit in the Strait. The Pasdarans: "They did not listen to our warnings"
Trump Drops Proposed 20% Hormuz Transit Fee, Opts For 'Gulf Deals' Instead As Strait Tensions Simmer
Donald Trump dropped a proposed 20% fee on Strait of Hormuz shipping, opting for Gulf investment deals instead, while maintaining a full blockade on Iranian oil and praising US military presence amid falling maritime traffic.
Trump institutes, cancels Strait of Hormuz tolls; Reimposes ‘full blockade’ with Gulf state deals
by WorldTribune Staff, July 14, 2026 Non-AI Real World News The leader of the Free World is keeping all sides guessing. As U.S. forces carried out a third consecutive night of strikes on Iranian targets, President Donald Trump said he was canceling the 20% toll on ships transiting the Strait of Hormuz. “I put it […]
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