“Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States,” Trump said.
US President Donald Trump addresses a joint session of Congress during his 2026 State of the Union speech in Washington DC. (ANI)
US President Donald Trump on Tuesday took a sharp U-turn on his proposed 20 per cent Hormuz shipping charge, replacing it with trade and investment deals with Gulf nations.
In a social media post on Truth Social, Trump claimed that the Strait of Hormuz is open for all except for Iran.
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“Oil is flowing like never before, thanks to the awesome Power of the United States Military…,” he said.
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He thanked US Secretary of War, Pete Hegseth, Chairman of the Joint Chiefs of Staff, Dan Caine, and Commander of the United States Central Command, Admiral Brad Cooper, saying their efforts have kept the Strait of Hormuz open for all ships.
Trump reiterated that the US will enforce a full blockade of Iranian ports.
“We will therefore have a FULL Blockade, but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo,” he said.
Trump said that he held “highly productive” talks with Middle East leadership and decided to replace the 20 per cent Hormuz shipping charge with trade and investment deals with several Gulf countries.
“Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States. Those Investments will be MASSIVE but, at the same time, extraordinarily good for them, and their future,” he said.
The US President reiterated that Iran will never have a nuclear weapon.
“The days of Iran killing hundreds of thousands of people, including 52,000 protestors, are OVER and, most importantly, IRAN WILL NEVER HAVE A NUCLEAR WEAPON!” Trump concluded.
Earlier on Monday, Trump had announced that US will reinstate its blockade in the Strait of Hormuz and charge ships for providing them safe passage.
The US blockade announcement came a day after Iran said that it was determined to “defend” the Hormuz Strait, asserting that the waterway is “more important than dozens of atomic bombs.”
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