Trump says US will take investment deals with Gulf states instead of fee for using Strait of Hormuz
XLE•Trump replaces proposed Strait of Hormuz fee with Gulf investment deals
July 14 (Reuters) - U.S. President Donald Trump said on Tuesday that trade and investment deals with the Gulf states will replace the 20% fee for ships to pass through the Strait of Hormuz that he had proposed a day earlier.
"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," he said in a post on Truth Social.
Reporting by Bhargav Acharya and Ismail Shakil; Editing by David Ljunggren
