Trump backs away from plans to charge fees in the Strait of Hormuz as attacks intensify
Trump says Gulf states will make massive U.S. investments after he abandons the transit fee, reversing course within 24 hours.
- 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.
443 Articles
443 Articles
Gulf States Signal Openness to Strait of Hormuz Fees, Reject Iranian Control
Several Arab Gulf states have privately indicated to U.S. and European officials that they are not opposed to paying a fee for transiting the Strait of Hormuz, but they reject any arrangement that gives Iran control over the waterway, according to multiple U.S. and regional officials familiar with the discussions. The distinction between accepting a […]
Iran Threatens To Shut Bab Al-Mandeb Too As Trump Drops His Hormuz Toll For Trade Deals
Iran threatened to close the Bab al-Mandeb Strait alongside Hormuz in an "operational alliance" with the Houthis, as President Trump reversed his proposed 20% Hormuz toll in favor of trade and investment deals from Gulf states and U.S. strikes on Iran entered a fifth day.
On Monday, Trump demanded an illegal tax to be the ‘guardian of the Strait of Hormuz.’ On Tuesday, he dropped the idea. And it’s not the first U-turn from the president. One commentator calls it hopeless, while another is not surprised.
Morning Business Report: Trump drops Strait of Hormuz cargo fee as stocks climb
(LILAMAX)- President Donald Trump has abandoned plans to impose a 20% charge on cargo shipped through the Strait of Hormuz after Gulf allies urged him to reconsider. Trump said on social media the proposed reimbursement fee would instead be replaced by trade and investment agreements with Gulf nations. At the same time, the United States announced it has resumed its blockade of Iranian shipping to and from the country’s ports and coastal waters.…
President Trump backs away from 20% Hormuz Strait protection fee
Today’s newsletter has a reading time of 6 minutes.DAILY BIBLE VERSE“And ye shall know the truth, and the truth shall make you free.” John 8:32Help us stay up and running into 2027 as an independent news outlet. We need 1,000 new paid subscribers by the end of this year. Join our paid subscription readers today - $5 monthly or $36 annually.Keep Us IndependentPhoto credit: Akio/Getty ImagesPresident Trump has already backed away from his suggesti…
Coverage Details
Bias Distribution
- 39% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
