US President Reverses 20% Tariff on Ships Transiting the Strait of Hormuz - Sarmad

U.S. President Donald Trump announced his decision to reverse his previous proposal to impose a 20% fee on ships transiting the Strait of Hormuz.

Trump stated that he had decided to replace the 20% fee levied on vessels passing through the Strait of Hormuz with commercial and investment agreements between the Gulf Arab states and the United States.

Writing on the social media platform Truth Social, Trump said, “I have decided to replace the U.S. compensation fee of 20% with commercial and investment agreements that the various Gulf states will conclude with the United States.”

The American leader added that the volume of these investments would be enormous, while simultaneously bringing significant benefits to the Gulf Arab states themselves.