- President Donald Trump has reversed his proposal to charge a 20% fee on all cargo transiting the Strait of Hormuz, a day after initially suggesting the levy.
- Instead of the fee, Trump said he would pursue trade and investment deals with various Gulf states, citing "highly productive conversations" with Middle East leadership.
- Trump stated the new investments from Gulf states into the United States would be "MASSIVE" and mutually beneficial for all parties involved.
- The initial 20% fee proposal had drawn opposition from the U.N.'s shipping agency, which generally opposes fees on maritime waterways.
- Trump declared a "FULL Blockade," specifically targeting ships traveling to or from Iranian ports, or those carrying Iranian cargo, while affirming the Strait of Hormuz remains open to all other vessel traffic.
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