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Trump Goes Back on Hormuz Fee In Favor of US Investment | Balance of Power
Posted
July 14, 2026
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34:57Now PlayingInsight & analysis on the White House and Capitol Hill.
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President Trump said that he is shelving the potential 20% fee for cargo ships passing through the Strait of Hormuz after gulf states urged him to drop it. 'I don’t like the concept of a fee,' Trump told reporters during an oval office meeting with the Prime Minister of Iraq. 'They’re going to be making massive investments into the United States, and I like that much better.' Trump said that he spoke to representatives of the Saudi Arabia, Qatar, Bahrain, Kuwait and the United Arab Emirates who urged him to change course.
Bloomberg Washington Correspondent Joe Mathieu delivers insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy.
On this edition, Joe and Kailey speak with:
-Bloomberg International Economics and Policy Correspondent Mike McKee
-Bloomberg Economics Chief Geoeconomics Analyst Jennifer Welch
-Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
-Republican Congressman from Montana Troy Downing.
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Bloomberg Washington Correspondent Joe Mathieu delivers insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy.
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