Trump drops Hormuz toll, leans on Gulf deals as US resumes Iran port blockade
TL;DR Summary
Trump reversed his threat of a 20% fee on cargo transiting the Strait of Hormuz, saying Gulf-state investments and deals would replace the toll as the U.S. resumes a naval blockade of Iranian ports. The move comes amid renewed U.S.-Iran strikes aimed at degrading Iranian shipping capabilities, with Hormuz traffic slowing and Brent crude prices rising. Iran says it still controls the strait and vowed to defend its interests as regional tensions persist.
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- Trump retreat over Hormuz tolls suggests he is struggling to end Iran war BBC
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- U.S. Reimposes Iranian Blockade as Trump Scraps Hormuz Toll WSJ
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