Middle East Update: Gulf Investment Pledge Reportedly Leads Trump to Drop Hormuz Fee Plan

U.S. President Donald Trump has reversed his earlier proposal to impose a 20% cargo fee on ships transiting the Strait of Hormuz. Trump said the decision followed positive discussions with Gulf leaders, including kings, emirs, and other regional officials, who reportedly offered to invest billions of dollars in the United States instead of supporting such a fee. He added that no country should be in a position to charge tolls for the use of major international straits. The report also highlights what it describes as a series of changing statements by Trump on the Strait of Hormuz. It claims that in March 2026, Trump said Iran could not impose tolls, while in April he suggested that the U.S., Iran, and Oman could jointly collect them. In May and June, he reportedly stated that no tolls would be charged under a deal with Iran. On July 14, he announced a proposed 20% fee, only to withdraw the idea the following day. The report portrays these shifts as repeated policy reversals.

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