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Trump Drops Hormuz Toll Threat After Gulf Pressure

Posted

July 14, 2026

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President Donald Trump backed away from his plan to impose a 20% charge on cargo shipments through the Strait of Hormuz after US allies in the Gulf urged him to drop it. #trump #iran #politics #worldnews #usa #news

Trump announced the decision, saying that the expected revenue would be replaced by forthcoming direct investments in the US from Gulf states, but did not specify a dollar amount or which countries would participate.

The reversal came after Trump spoke to representatives from Saudi Arabia, Qatar, Bahrain, Kuwait and the United Arab Emirates, who urged him to "do it a different way" with financial commitments to America.

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Trump Drops Hormuz Toll Threat After Gulf Pressure · Bloomberg News · Sentinel