Washington, July 14 -- US President Donald Trump on Tuesday (local time) welcomed the Gulf nations' investment of massive amounts of capital into the American economy in direct exchange for securing the critical Strait of Hormuz, following his recent announcement regarding the transit fee.

Speaking from the Oval Office in a bilateral meeting with Iraqi Prime Minister Ali al-Zaidi, Trump stated that the new architecture follows direct appeals from Middle Eastern leaders who sought an alternative to the previously proposed 20 per cent maritime transit reimbursement fee.

"I was called by different people, different countries, kings and emirs and all the people that we all know and love," Trump said. "And they said we'd love to do it a diff...