Trump Drops 20% Hormuz Charge but Keeps Iran-Only Blockade

President Donald Trump dropped his planned 20% charge on cargo moving through the Strait of Hormuz, one day after announcing it. He said highly productive talks with Middle East leaders led him to replace the fee with trade and investment agreements that Gulf states would make in the United States, predicting the investments would be massive. Trump kept the renewed blockade focused on vessels entering or leaving Iranian ports or carrying Iran-linked cargo, while saying the waterway remains open to other shipping. The blockade was scheduled to begin at 11 p.m. Israel time Tuesday.