US President Donald Trump announced on Tuesday that the Strait of Hormuz is open to all ship traffic except Iran.

Trump clarified that the United States will impose a full blockade but only on ships coming from and going to Iranian ports.

Trump said trade and investment agreements with Gulf states will replace the 20% fee imposed on goods passing through the Strait of Hormuz, which he proposed on Monday.

He added in a post on Truth Social: "Based on very productive talks with Middle East leaders, I decided to replace the 20% fee imposed by the United States with trade and investment agreements with various Gulf states."

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