Trump backs down from imposing fees on ships crossing the Strait of Hormuz

U.S. President Donald Trump announced his retreat from his plan to impose a 20% fee on shipments passing through the Strait of Hormuz, indicating that he will replace them with trade agreements and investments in the United States.

Trump said in a post on Truth Social on Tuesday that he made this decision after 'very productive talks' with regional leaders, adding that the proposed fees will be replaced by trade and investment deals within the United States.

This retreat comes just one day after Trump announced his intention to reimpose the blockade on Iranian ports and impose a 20% fee on shipments crossing the Strait of Hormuz.

War on Iran

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