General U.S. NewsJul 14, 2026·2 min read

Trump drops proposed 20% Strait of Hormuz toll within 24 hours, opts for Gulf trade deals

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Summary

Iran war updates: US president Donald Trump, on Tuesday (14 July) has withdrawn his 20% toll on cargo going through the Strait of Hormuz proposal, mere twenty four hours after declaring it. The US president instead declared that the toll will be replaced by Gulf States investing in the United States. “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 wrote on Truth Social moments before he was expected to meet with Iraq’s prime minister at the White House. Trump had announced on Monday that the fee would cover US-provided security in the critical oil thoroughfare. Trump withdrew the proposal after receiving feedback from Middle East leadership, opting instead for Gulf States to invest in the US, which he described as more beneficial. The proposed 20% toll would dramatically increase shipping costs, amounting to about $32 million for a fully loaded supertanker, making it unaffordable compared to existing shipping fees. Legal concerns centered on the fact that the Strait of Hormuz is an international waterway, where charging fees is generally viewed as a violation of existing maritime law. Sayantani Biswas is an assistant editor at Livemint with seven years of experience covering geopolitics, foreign policy, international relations and global power dynamics. She reports on Indian and international politics, including elections worldwide, and specialises in historically grounded analysis of contemporary conflicts and state decisions. She also writes on political language, cultural memory and the long shadows of conflict. <br> Biswas grew up in Durgapur, an industrial town in West Bengal shaped by migration, which drew families from across India to the Durgapur Steel Plant. Stay updated with the latest Trending , India , World and US news.

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President Donald Trump has withdrawn his proposed 20% toll on cargo passing through the Strait of Hormuz, replacing it with trade and investment deals with Gulf states.

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Trump drops proposed 20% Strait of Hormuz toll within 24 hours, opts for Gulf trade deals

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