Washington, July 15 -- US President Donald Trump abandoned his plan to impose a 20 per cent fee on commercial vessels transiting the Strait of Hormuz, saying Gulf states had instead agreed to pursue major investment and trade deals with the United States.
The reversal came a day after Trump announced on Truth Social that the United States would levy a "20% reimbursement fee" on shipping through the strategic waterway, through which roughly one-fifth of global oil supplies pass.
In a fresh Truth Social post, Trump said the fee would be replaced by investment commitments from Gulf countries while the United States would impose a "FULL Blockade" only on ships traveling to or from Iranian ports or carrying Iranian cargo.
"Based on highly pro...