Al Jazeera·2 min read·medium
Trump pivots from 20 percent Strait of Hormuz fee amid Iran war escalation
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Al Jazeera Staff
✦AI Summary
US President Donald Trump has reversed his decision to levy a 20 percent transit fee for vessels passing through the Strait of Hormuz, a day after announcing it. Instead, he stated that Gulf States would make "massive" trade and investment deals with the United States in exchange for transit protection. This pivot comes amid escalating conflict between the US and Iran.
Trump backs away from fee, says regional countries will instead invest in US in return for transit protection.
politicsworldeconomy
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