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2 weeks ago

Trump scraps proposed Strait of Hormuz shipping fee for Gulf states' investment deals

President Donald Trump on Tuesday announced that he will replace a 20% fee on commercial shipping moving through the Strait of Hormuz with "Trade and Investment Deals" that Gulf nations will be making in the United States.Trump said the move came as the movement of oil and natural gas supplies has eased along the waterway, a vital, narrow commercial shipping point currently being contested by Washington and Tehran."Oil is flowing like never before, thanks to the awesome Power of the United States Military," Trump wrote on Truth Social. "The Strait of Hormuz is open to ALL Ship traffic except f...