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International Business Times UK
International Business Times UK
World
Rohit David

Trump's Hormuz Toll Gamble Ends Quickly: 20% Fee Abandoned After Single Day in Power Play

Donald Trump Hormuz Gulf United States Iran the Strait of Hormuz
Trump scraps 20% Hormuz toll after Gulf allies offer US investment deals instead (For illustration purposes only) (Credit: Adedeji Michael: Pexels)

President Donald Trump has abandoned his proposal for a 20 per cent toll on cargo transiting the Strait of Hormuz, reversing the plan just one day after it was unveiled. The decision followed appeals from Gulf allies and substitutes the fee with commitments to expanded trade and investment deals from the region.

Trump Announces Toll Plan To Cover Security Costs

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